Tata Steel acquires 11.25% OCRPS of TRF
9th May 2022

Tata Steel has acquired 1,20,00,000, 11.25% Optionally Convertible Redeemable Preference Shares (OCRPS) of face value Rs 10 each of TRF, aggregating to Rs 12 crore, on May 07, 2022. The OCRPS are being acquired to assist TRF in repayment/prepayment of the whole or a part of the existing indebtedness of TRF, payment against long outstanding vendor dues, to seek their support towards material supplies for completing legacy projects and delivering other committed orders and/or for other general corporate purposes. With this acquisition, Tata Steel will hold 1,20,00,000, 11.25% OCRPS representing 100% of the preference share capital of TRF. 

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.