Tata Steel Acquires Shares Worth Rs 1,074 Crore In Singapore Unit

Tata Steel Ltd. said on Thursday that the company has acquired a stake in its Singapore-based unit, T Steel Holdings Pte. Ltd., in a transaction valued at Rs 1,073.63 crore ($125.25 million).

The Tata Group's steelmaker acquired 124.6 crore shares, with a face value of $0.1005 each, according to an exchange filing. Post this acquisition, T Steel Holdings will continue to be a wholly-owned subsidiary of the Indian steel manufacturer.

The latest stake acquisition comes after Tata Steel had acquired a stake worth Rs 10,727 crore in T Steel Holdings in February. Earlier, in August 2024, the steelmaker had acquired a stake worth Rs 2,348 crore in its Singapore unit.

In May last year, the company had said that it will infuse money into its foreign subsidiary by subscribing to its equity shares and that the company plans to acquire the shares in one or more tranches during this financial year.

Tata Steel notified the exchanges about its acquisition of stake in T Steel Holdings after the market hours. The steelmaker's stock had settled 1.04% higher at Rs 160.66 apiece on the NSE, compared to a 0.47% decline in the benchmark Nifty 50.

The company's shares have fallen 4.36% over the past 12 months and risen 16.38% year-to-date.

Out of 50 analysts tracking the company, 35 maintain a 'buy' rating, 12 recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average of 12-month consensus price target implies a target price of Rs 163.93, which indicates a potential upside of 2%.