Tata Steel Fortifies Holdings with $875 Million Investment in Singapore Arm

Tata Steel has acquired over 557 crore equity shares in its Singapore-based subsidiary, T Steel Holdings Pte Ltd, for $875 million. This investment, approved in May, reinforces TSHP as a wholly-owned subsidiary. The shares, valued at $0.157 each, total Rs 7,324.41 crore.

Tata Steel has made a strategic move by acquiring over 557 crore equity shares in its Singapore-based subsidiary T Steel Holdings Pte Ltd (TSHP) for a substantial $875 million.

In May, the Tata Steel board gave the green light for this infusion of capital into TSHP through the subscription to equity shares, as disclosed in an exchange filing.

Following this acquisition, TSHP will maintain its status as a wholly-owned subsidiary of Tata Steel, further solidifying the company's international presence and market position.

(With inputs from agencies.)