Tata Steel announced acquiring 557 crore equity shares in its Singapore-based arm, T Steel Holdings Pte Ltd (TSHP), for USD 875 million (Rs 7,324.41 crore). This follows the board’s approval in May to infuse funds into TSHP. The shares have a face value of USD 0.157 each. Post-acquisition, TSHP remains a wholly-owned subsidiary of Tata Steel.
Tata Steel Acquires Over 557 Crore Shares in Singapore Arm for 7300 Crores
The Tata Steel corporate building in Kolkata (Calcutta), West Bengal, India - as on 10 November 2005.