Company board on Thursday approved amalgamation of all seven metal companies of Tata group into Tata Steel Limited

The board of directors of Tata group has approved amalgamation of all metal companies of Tata group into Tata Steel. The company board in its Thursday meeting approved merger of its seven metal companies with its parent metal company Tata Steel Limited. Those seven metal companies of Tata group that will be merged with Tata Steel are Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited and S & T Mining Company Limited.

Tata group informed Indian stock market exchanges about the decision and said that the board of directors of the company (“Board") at its meeting held on September 22, 2022, inter alia, considered and approved the following Seven (7) Schemes of Amalgamation of:

1] Tata Steel Long Products Limited (‘TSLP-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’);

2] The Tinplate Company of India Limited (‘TCIL-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’);

3] Tata Metaliks Limited (‘TML-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’);

4] TRF Limited (‘TRF-Transferor Company’) into and with Tata Steel Limited (‘Transferee Company’);

5] The Indian Steel & Wire Products Limited (‘ISWP-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’);

6] Tata Steel Mining Limited (‘TSML-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’); and

7] S & T Mining Company Limited (‘S & T Mining-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’).

Each Scheme is subject to the receipt of approval from the (a) requisite majority of the shareholders of the respective Transferor Companies and Transferee Company; (b) Competent Authority (as defined in each of the Schemes), (c) SEBI (d) The National Stock Exchange of India Limited and the BSE Limited (hereinafter collectively referred to as “Stock Exchanges"); and (e) such other approvals, permissions and sanctions of regulatory and other statutory or governmental authorities / quasi-judicial authorities, as may be necessary as per applicable laws.

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