Tata Steel has acquired 32,63,70,757 equity shares of Rs10 each at a premium of Rs 9.15 per share, of Tata Steel Mining, a wholly-owned subsidiary of Tata Steel, for an amount aggregating to approximately Rs 625 crore. On completion of the above acquisition, Tata Steel Mining will continue to be a wholly-owned subsidiary of the Company. This equity infusion is for funding of Tata Steel Mining's acquisition of Rohit Ferro Tech under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code.
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