Tata Steel Ltd.'s board approved the acquisition of an additional 179 crore shares in T Steel Holdings Pte. for Rs 1,563 crore.
TSHP, based in Singapore, is a wholly-owned subsidiary crucial for Tata Steel's overseas investments. Its main business is holding equity shares of indirect international subsidiaries.
This latest acquisition follows earlier significant investments. On Feb. 20, 2025, Tata Steel acquired 191 crore equity shares in TSHP for approximately Rs 2,603 crore. A few days later, on Feb. 25, 2025, another major transaction involved acquiring 788 crore equity shares in TSHP for about Rs 10,727 crore, totaling investments of about Rs 13,000 crore.
Funds from these previous infusions into TSHP were strategically used to repay external debt of Tata Steel's offshore subsidiaries. They also supported ongoing restructuring efforts within Tata Steel UK, an important part of its international network, the company said.
This comes even as Tata Steel received show-cause notice from the Central Goods and Services Tax department over irregular availing of input tax credit.
The notice claimed that the company availed input tax credit worth Rs 890 crore over fiscals 2019-2021, according to an exchange filing. The firm said the notice had no merit and that it will make its submissions before the adjudicating authority within the given timelines.
"There is no impact on financial, operational, or other activities of the company, arising from the said SCN," Tata Steel said.
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