Comments
Tata Metaliks has fixed February 6 as the record date for the proposed merger with Tata Steel.
According to the scheme of amalgamation, TML shareholders will be entitled to receive fully paid-up ordinary equity shares of Tata Steel Ltd on face value ₹1 each, in the share exchange ratio of 79:10 (79 shares of Tata Steel for every 10 held in TML).
It may be recalled that Tata Group had decided to merge seven of its metal companies — both listed and unlisted — into Tata Steel. They are Tata Steel Long Products Ltd, Tinplate Company of India Ltd, Tata Metaliks Ltd, TRF Ltd, Indian Steel & Wire Products Ltd, Tata Steel Mining Ltd, and S&T Mining Company Ltd.
Earlier this month, the National Company Law Tribunal (NCLT) has sanctioned the amalgamation of Tata Metaliks with Tata Steel.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.