Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it added.
On August 14, Tata Steel acquired 1,15,92,35,669 ordinary equity shares, aggregating to USD 182 million in TSHP.
The company acquired 5,57,32,48,408 equity shares of TSHP on July 29 for USD 875 million.
The Board of Directors of Tata Steel on May 29 approved the infusion of funds by way of subscription to equity shares of T Steel Holdings Pte Ltd (TSHP), a wholly-owned foreign subsidiary of the company in one or more tranches, during FY2024-25.
https://img.etimg.com/thumb/msid-112870470,width-1200,height-630,imgsize-32846,overlay-etmarkets/photo.jpg
Source link