Tata Steel Acquires 116 Cr Shares in Singapore Arm for USD 182 Million
Tata Steel has acquired 116 crore equity shares in its Singapore-based arm, T Steel Holdings Pte Ltd, for USD 182 million, making it a wholly-owned subsidiary.
New Delhi, Aug 14 (PTI) Tata Steel on Wednesday said it has acquired about 116 crore equity shares in its Singapore-based arm for USD 182 million.
"Tata Steel acquired 1,15,92,35,669 ordinary equity shares of face value USD 0.157 each aggregating to USD 182 million (Rs 1,528.24 crore) in T Steel Holdings Pte Ltd (TSHP)," the company said in an exchange filing.
Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it added.
"Tata Steel acquired 1,15,92,35,669 ordinary equity shares of face value USD 0.157 each aggregating to USD 182 million (Rs 1,528.24 crore) in T Steel Holdings Pte Ltd (TSHP)," the company said in an exchange filing.
Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it added.
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