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MUMBAI - Tata Steel (NSE:TISC) Limited has increased its shareholding in the Indian Foundation for Quality Management (IFQM) to 16.66% by acquiring additional equity shares, the company informed the London Stock Exchange (LON:LSEG) on Tuesday.
The steel giant purchased 1,24,90,000 shares of IFQM at a face value of ₹10 each, totaling ₹12.49 crore ($1.6 million approximately). This transaction, completed on April 1, 2025, raised Tata Steel’s stake from the previous 9.09%.
IFQM, a not-for-profit entity incorporated on September 6, 2023, aims to promote quality management principles across various industries in India. The company has not yet started operations or generated revenue since its inception, reporting a net worth of ₹59.67 crore as of March 31, 2024.
This acquisition is a related party transaction, as Natarajan Chandrasekaran, Chairman of Tata Steel, is on the board of IFQM. However, the company states the deal was made at arm’s length and in the ordinary course of business, implying fair market practices without preferential treatment.
The investment aligns with Tata Steel’s support for IFQM’s mission to foster quality management in Indian organizations. No governmental or regulatory approvals were required for the acquisition, and the transaction was made in cash.
This strategic move by Tata Steel could potentially strengthen its commitment to quality and operational excellence within the industry. The details of the acquisition were disclosed in compliance with regulations by the Securities and Exchange Board of India.
The information is based on a press release statement provided by RNS, the news service of the London Stock Exchange.
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