Tata Steel acquired 1,55,34,738 equity shares of Rs 10/- each of Tata Steel Advanced Materials (TSAML), a wholly owned subsidiary of the Company, on March 16, 2023, at an issue price of Rs 12.81 per share (including a premium of Rs 2.81 per share), for an amount of approximately Rs 19.90 crore (hereinafter referred to as the ‘Transaction’). TSAML will remain a wholly owned subsidiary of Tata Steel following the completion of the aforementioned acquisition.
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