Tata Steel Long Products Limited (TSLP), a subsidiary of Tata Steel Limited on February 9, 2022, accepted the said Letter of Award issued (LOA) by the Department of Investment and Public Asset Management (DIPAM), Government of India on February 2, 2022, for the acquisition of 93.71% equity stake of Neelachal Ispat Nigam Limited (NINL).
The process for acquisition of NINL is likely to be completed within the next couple of months in accordance with the timelines announced by DIPAM, the company said in the filing.
At around 11.03 am, Tata Steel Long Products Limited was trading at Rs742.90 per share up Rs3.50 or 0.47% on the BSE.
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