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Tata Steel Long Products (TSLP) has acquired an additional 46,875,000 equity shares in NINL for INR 300 crore ($36.71 million), Kallanish notes. The former paid INR 10 ($0.12) each at a premium of INR 54/share for the acquisition of additional equity shares. Post-acquisition, TSLP’s stake will rise to 95.96%, totalling 1,272,154,735 equity shares of NINL. “The proposed funding will be utilised towards the initial working capital and capex requirement …
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