Tata Steel acquired a stake worth Rs 1,340 crore or $140 million in its wholly owned foreign subsidiary, T Steel Holdings (TSHP), on Thursday. This comes as part of a broader investment plan announced by the company this year in March.
The steelmaker acquired over 162 crore equity shares of face value $0.0864 each, amounting to Rs 1,340.16 crore. Post-acquisition, TSHP will continue to operate as a wholly owned subsidiary of the company.
Tata Steel to invest $2 billion in TSHP
In March, the company’s board of directors had approved an investment of around Rs 18,488.10 crore or $2 billion in TSHP via the means of subscription of equity shares in one or more tranches.
“The funding will be provided through the subscription to equity shares of TSHP in one or more tranches, taking the overall investment limit in the subsidiary to $26.21 billion,” the company had said in its exchange filing.
Tata Steel: Q1 FY27 result
For Q1 FY27, the steelmaker posted a year-on-year increase of 11.5% in its consolidated net profit to Rs 2,318 crore against Rs 2,077 crore reported in the year-ago period. Its consolidated revenue from operations for the quarter ended June 30 stood at Rs 60,749 crore, rising 14% YoY from Rs 53,178 crore reported in the same quarter last year.
On the operational front, its earnings before interest, tax, depreciation, and amortization (EBITDA) were posted at Rs 9,264 crore, climbing nearly 25% YoY as compared to Rs 7,428 crore reported in Q1 FY26.
Tata Steel share price
Tata Steel’s stock ended Thursday’s trade on exchanges flat at Rs 186.80. Over the past one month, its stock has delivered a return of nearly 2%, while over the past six months, its share price has fallen around 9%.