Tata Steel Plans Shareholders' Meet on Jan 25 for Indian Steel and Wire Products Merger

26 Dec 2023 , 12:59 PM

Tata Steel schedules a shareholders’ meeting on January 25, 2024, to consider the merger of its subsidiary, Indian Steel and Wire Products. The National Company Law Tribunal (NCLT) directs the meeting through video conferencing or other audio-visual means to approve the merger scheme.

Meeting logistics include video conferencing on January 25 at 11 am and remote e-voting starting from January 21 at 9 am to January 24 at 5 pm.

Tata Steel had earlier approved the merger of seven subsidiaries, including Indian Steel and Wire Products, in 2022. The merger aims to unlock shareholder value, utilize facilities efficiently, and collaborate on marketing and distribution networks.

CEO TV Narendran anticipates completing the merger in the current financial year, FY 23-24, depending on regulatory processes, including NCLT clearances.

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