Tata Steel to make open offer for Tata SSL

Our Corporate Bureau

Mumbai, Nov 27: Tata Steel will make the mandatory third offer to the shareholders of Tata SSL Ltd (TSSL) following the crossing of the 90 per cent threshold limit for delisting the scrip from the stock exchange.

At the end of the second offer which closed on Tuesday, the company acquired 10 per cent equity, taking Tata Steel’s holding to 92-93 per cent in TSSL. The second offer at Rs 27 per share had opened on October 29, company sources said.

TSSL engaged in the manufacturing of steel wires, narrow cold sheets/coils and profiles is a subsidiary of Tata Steel. It will be delisted from the stock exchanges as per the Sebi norms at the end of the mandatory offer.