Tata Steel has paid consideration for acquiring 10.4 million equity shares of INR10 each at a premium of INR 9.15 per share, of wholly-owned subsidiary Tata Steel Mining, a of the Company, for an amount aggregating to approximately INR 20.06 crore. Upon completion of the Transaction, Tata Steel Mining will continue to be a wholly-owned subsidiary of the Company with 100% equity stake.Tata Steel Mining is a wholly owned subsidiary of Tata Steel Limited. It is a key player in mining and Ferro Alloys business. Tata Steel Mining was incorporated in 2004 & operates 3 chromite mines, a ferroalloy plant and has partnered with 8 external ferro processing centers for manufacture of ferrochrome. Tata Steel Mining provides raw materials to stainless steel, alloy steel and refractory manufacturers across the globe. The revenue of Tata Steel Mining for the previous three financial years was2021-22: INR 4,612.72 crore2020-21: INR 536.73 crore2019-20: INR 200.91 crore
Tata Steel has paid consideration for acquiring 10.4 million equity shares of INR10 each at a premium of INR 9.15 per share, of wholly-owned subsidiary Tata Steel Mining, a of the Company, for an amount aggregating to approximately INR 20.06 crore. Upon completion of the Transaction, Tata Steel Mining will continue to be a wholly-owned subsidiary of the Company with 100% equity stake.Tata Steel Mining is a wholly owned subsidiary of Tata Steel Limited. It is a key player in mining and Ferro Alloys business. Tata Steel Mining was incorporated in 2004 & operates 3 chromite mines, a ferroalloy plant and has partnered with 8 external ferro processing centers for manufacture of ferrochrome. Tata Steel Mining provides raw materials to stainless steel, alloy steel and refractory manufacturers across the globe. The revenue of Tata Steel Mining for the previous three financial years was2021-22: INR 4,612.72 crore2020-21: INR 536.73 crore2019-20: INR 200.91 crore
