Seven subsidiary companies of Tata Steel will be merged with the parent company in financial year 2024. Tata Steel, in an exchange filing in September 2022 had announced that the merger of seven subsidiaries of Tata steel would be completed in financial Year 2023-24.
Tata Steel’s THESE subsidiary companies to merge with parent company in FY24 – What we know so far
The seven Tata Steel subsidiaries that will merge with the parent company are – Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company.
In September 2022, Tata Steel board had approved the proposal to merge these seven companies into the parent company. The board had reportedly cited meximising of synergy, efficiency and cost reduction as some of the reasons behind the then-proposed merger of Tata Steel subsidiaries.
In case of Tata Metaliks Limited for instance, the board had cited – “The amalgamation will consolidate TML into and with the Company which will result in focused growth, operational efficiencies, and business synergies. In addition, resulting corporate holding structure will bring agility to the business ecosystem of the merged entity.”
Tata Steel merger ratio
According to the Tata Steel merger plan, the four listed Tata Group metal companies —Tata steel long product will be merged in the ratio 67:10, while Tinplate Company of India Limited will be merged in the ratio 33:10. Tata Metaliks Limited merger ratio has been fixed at 79:10 and TRF Limited merger ratio is 17:10.
source by : Times Now
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