Tata Steel hikes stake in Tata Steel Advanced Materials

Tata Steel has, on 27 December 2022, acquired 1,15,45,667 equity shares of Rs 10/- each at an issue price of Rs 12.81 per share (including a premium of Rs 2.81 per share), of Tata Steel Advanced Materials (TSAML), for an amount aggregating to approximately Rs 14.80 crore. On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of the Company.

Post acquisition, Tata Steel's stake in TSAML has increased from 53.57% to 66.75%. The balance stake of 33.25% is held by Tata Steel Downstream Products, a wholly owned subsidiary of Tata Steel.

Tata Steel has ventured into New Materials Business (NMB) in areas of composites, graphene, medical materials amongst others. Towards this, TSAML (wholly owned subsidiary of TSL) has been identified as the anchor company to pursue business opportunities in NMB.

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