Tata Steel, a prominent Indian multinational steel company headquartered in Mumbai, has announced a significant acquisition. The company has acquired approximately 116 crore equity shares in its Singapore-based subsidiary, T Steel Holdings Pte Ltd (TSHP), for USD 182 million (around Rs 1,528 crore). This move is part of Tata Steel’s ongoing expansion strategy and reinforces its global presence.
Details of the Acquisition
According to an exchange filing, Tata Steel has purchased 1,15,92,35,669 ordinary equity shares with a face value of USD 0.157 each. Following this acquisition, TSHP will remain a wholly-owned subsidiary of Tata Steel.
Tata Steel’s Market Position
Tata Steel is one of the world’s leading steel producers, with a substantial market capitalization of Rs 182,000 crore. The company closed its shares at Rs 146.50 on the NSE on August 14. For the January-March 2024 quarter, Tata Steel reported consolidated revenues of Rs 58,687 crore. The company’s consolidated revenues for the fiscal year 2024 amounted to Rs 2,29,171 crore.
Ongoing Global Expansion
The acquisition is a testament to Tata Steel’s commitment to expanding its global footprint and strengthening its position in the international market.
