Tata Steel invests Rs 5cr in Tata Steel Downstream Products

Tata Steel Limited is investing INR 5 crores in its fully-owned subsidiary Tata Steel Downstream Products, which is involved in the business of processing finished hot-rolled (HR) and cold-rolled (CR) coils.

In this connection, Tata Steel purchased 3,55,871 equity shares of INR 10 in Tata Steel Downstream Products at a premium of INR 130.5 per share.

Tata Steel Downstream Products will use the funds for investing further in its fully-owned subsidiary — Tata Steel Advanced Materials, for business synergy, and for other general corporate purposes.

Tata Steel invests Rs 5cr in Tata Steel Downstream Products. Photo courtesy of Multi Hero/Wikipedia.org.

Incorporated in 1997, Tata Steel Downstream Products has 10 steel processing units and 15 sales and distribution locations. It is said to serve a wide range of industries and is counted among the top automotive steel suppliers.