Tata Steel acquires stake in Indian Steel & Wire Products

10 May 2024 Evaluate

Tata Steel has acquired 18,73,493 equity shares of Rs 10 each at an issue price of Rs 427.01 per share (including a premium of Rs 417.01 per share), of The Indian Steel & Wire Products (ISWP), a subsidiary company, on preferential basis, for an aggregate amount of around Rs 80 crore. Upon completion of the Transaction, the aggregate equity stake of the company has increased to 98.61%. These funds shall be utilized by ISWP for meeting the expenditure requirement towards its Combi-Mill project. 

Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.


Tata Steel BSL Share Price

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