Tata Steel infuses equity capital of Rs 625 cr in Tata Steel Mining

19 Apr 2022 , 01:35 AM

Tata Steel has acquired 326370757 equity shares of Rs10 each at a premium of Rs 915 per share of Tata Steel Mining a wholly-owned subsidiary of Tata Steel for an amount aggregating to approximately Rs 625 crore On completion of the above acquisition Tata Steel Mining will continue to be a wholly-owned subsidiary of the Company This equity infusion is for funding of Tata Steel Minings acquisition of Rohit Ferro Tech under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code