Tata Steel’s arm acquires additional 10% stake in Rohit Ferro-Tech
16th Jun 2022

Tata Steel’s wholly-owned subsidiary -- Tata Steel Mining (TSML) has acquired additional 10% equity stake in subsidiary company -- Rohit Ferro-Tech (RFT) for an amount aggregating to around Rs 20.06 crore. Upon completion of the Transaction, RFT will become a wholly-owned subsidiary of TSML.

TSML has paid cash consideration for acquiring 10% equity stake in RFT i.e., 11,11,111 equity shares of Rs 10 each at a premium of Rs 170.54 per share. Upon completion of the transaction, the equity stake of TSML in RFT will increase from 90% to 100%, resulting in RFT becoming a step-down wholly-owned subsidiary of the Company.

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.