16 Jun 2022 , 09:23 AM
The acquisition is for an amount aggregating to approximately Rs20.06 crore. Upon completion of the said acquisition, Tata Steel will continue to be a wholly-owned subsidiary of the Company.
Tata Steel Mining is a key player in the mining and Ferro Alloys business, and a wholly-owned subsidiary of Tata Steel Limited.
TSML is a global provider of raw materials to stainless steel, alloy steel, and refractory manufacturers. It currently operates 3 Chromite mines, 1 ferro-alloy plant and has partnered with 8 external ferro processing centers for the manufacture of ferro chrome.
On completion of the said Transaction, the equity stake of Tata Steel in TSML will remain the same at 100%.
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