23
Feb
06:57
Tata Steel acquires additional stake in NINL
Tata Steel has acquired an additional 46,875,000 equity shares in NINL for INR 300 crore ($36.25 million), Kallanish notes.
The former paid INR 10 ($0.12) plus a premium of INR 54 per share for the acquisition of additional equity shares. Post-acquisition, TSLP’s stake will rise to 5.23%, totalling 71,771,187 equity shares of NINL.
“The proposed funding will be utilized towards the working capital and capex requirement of NINL including the start-up o…
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Very good overview of the weekly steel market.
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