30 Mar 2022 , 07:51 PM
Tata Steel announced that as part of the its initiative towards simplification of its portfolio, the company has today, i.e. 30 March 2022 transferred the 89,63,888 equity shares of face value Rs. 10/- each, held in Tata Steel Special Economic Zone (TSSEZ) to Tata Steel Utilities and Infrastructure Services (TSUISL) for a consideration other than cash, in form of 5,51,175 equity shares of TSUISL.
The company is reorganizing its footprint in India into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders. TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster. Accordingly, the companys investment(s) held in entities forming part of the Utilities and Infrastructure Services business are being consolidated with TSUISL.
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