31
Aug
12:31
Tata acquires remaining stake in mining subsidiary
Tata Steel has acquired additional equity shares of mining subsidiary Tata Steel Mining (TSML), for an amount aggregating to approximately INR 54 crore ($6.79 million). The company acquired on a preferential basis 28,198,433 equity shares at INR 10 each, at a premium of INR 9.15/share, Kallanish notes.
Post-acquisition, Tata’s stake in TSML surged to 850,115,454 equity shares, translating into 100% ownership of TSML. The nature of consideration for TSML&rsqu…
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