Tata Steel has on 24 May 2022, acquired 3,55,871 equity shares of
Rs 10/- each at a premium of Rs 130.50 per share, of Tata Steel Downstream
Products (TSDPL), a wholly owned subsidiary of the Company, for an amount
aggregating to Rs 5 crore, for a cash consideration.
These
funds will be utilized by TSDPL for further investment in Tata steel Advanced
Materials, a wholly owned subsidiary of the Company, for business synergy and
for other general corporate purpose