India, Aug. 28 -- Tata Steel Ltd. (TATASTEEL.NS) on Thursday said it acquired 1.62 billion equity shares of wholly owned subsidiary T Steel Holdings Pte. Ltd. for $140 million or 1,340.16 crore rupees.
Following the acquisition, T Steel Holdings will continue to remain a wholly owned subsidiary of Tata Steel.
The investment was made under the board-approved plan to infuse up to $2 billion into T Steel Holdings in one or more tranches, increasing Tata Steel's aggregate investment limit in the subsidiary to $26.21 billion.
Tata Steel is currently trading 0.32% lesser at INR 186.20 on the National Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News...