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Tata Steel Long Products further invests of Rs 300 cr in Neelachal Ispat Nigam

Tata Steel Long Products further invests of Rs 300 cr in Neelachal Ispat Nigam

November 25, 2022 10:10 IST | capital market
Tata Steel Long Products has further acquired 4,68,75,000 equity shares of Rs10/-each at a premium of Rs 54 per share, of Neelachal Ispat Nigam (NINL), a subsidiary of the Company, for an amount aggregating to Rs 300 crore, being Tranche 2 of the investment in the equity shares of NINL. The proposed funding will be utilized towards the initial working capital and capex requirement of the NINL including start-up of iron and steel plant at Kalinganagar, repayment/prepayment of liabilities and for other general corporate purposes. Powered by Capital Market - Live News

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