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

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.

Related Posts

CATEGORIES
TAGS
Share This