Tata Steel gets 5.57 bn equity shares in Singapore-based arm for $875 mn

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Tata Steel gets 5.57 bn equity shares in Singapore-based arm for $875 mn - Business Standard

Quick Summary:

In May, Tata Steel's board had approved infusion of funds into T Steel Holdings Pte Ltd (TSHP), by way of subscription to equity shares in one or more tranches, the company said in an exchange filing.

Tata Steel on Monday said it has acquired over 557 crore equity shares in its Singapore-based arm for USD 875 million.

Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it said.