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LONDON - Tata Steel (NSE:TISC) Limited announced Thursday it has completed the acquisition of 100% equity stake in Neelachal Ispat Nigam Limited (NINL), making NINL its wholly owned subsidiary.
The final transaction follows a multi-year acquisition process that began on July 4, 2022, when Tata Steel Long Products Limited acquired a 93.71% equity stake in NINL through a disinvestment process run by India’s Department of Disinvestment & Public Asset Management. That initial acquisition was completed for ₹12,100 crore (approximately $1.45 billion at current exchange rates).
Tata Steel subsequently acquired an additional 5.23% equity stake in February 2023, followed by purchases of remaining minority stakes in tranches between fiscal years 2023 and 2025, culminating in today’s announcement of complete ownership.
The company noted in its press release statement that the disclosure was made in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements.
Tata Steel Long Products Limited, which initiated the acquisition, was amalgamated into Tata Steel Limited effective November 11, 2023, through a sanctioned Scheme of Amalgamation.
The acquisition represents a significant consolidation in India’s steel sector, with Tata Steel expanding its manufacturing capabilities through complete ownership of NINL’s assets.
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