Tata Steel Merger: 7 companies of Tata Group will merge, know why the merger is happening and what will be its effect

Tata Steel Merger: A big news has come about the country’s leading steel company Tata Steel. It is reported that all the metal companies of Tata group will be merged with Tata Steel (Tata Steel Merger). Accordingly, Tata group metal companies will now come under the purview of Tata Steel. After this, the shares of […]
 


Tata Steel Merger: 7 companies of Tata Group will merge, know why the merger is happening and what will be its effect

Tata Steel Merger: A big news has come about the country’s leading steel company Tata Steel. It is reported that all the metal companies of Tata group will be merged with Tata Steel (Tata Steel Merger). Accordingly, Tata group metal companies will now come under the purview of Tata Steel. After this, the shares of Tata Steel have seen tremendous growth in the stock market today.

Tata Steel informed SEBI

SEBI has been informed by Tata Steel that the plan to merge six subsidiaries with it has been approved. A proposal in this regard was approved by the company’s board yesterday, it said in a statement on Friday. “The Board of Directors of Tata Steel has considered and approved the proposed scheme of merger of six subsidiaries with Tata Steel,” a statement issued by Tata Steel said. The board also approved the merger of TRF Limited (34.11 percent stake), a subsidiary of Tata Steel, with Tata Steel Limited.

Which companies are named in the merger?

 

These subsidiaries are Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metallics Limited, The Indian Steel and Wire Products Limited, Tata Steel Mining Limited and S&T Mining Company Limited.

Know how much participation of Tata Steel in these companies

Tata Steel holds 74.91 percent stake in Tata Steel Long Products Limited. In addition, it owns 74.96 percent in The Tinplate Company of India Limited, 60.03 percent in Tata Metals Limited and 95.01 percent in Indian Steel and Wire Products Limited, while both Tata Steel Mining Limited and S&T Mining Company Limited are wholly owned. There are subsidiaries.

Source