- Tata Steel acquired 393 crore shares of its subsidiary TSHP for Rs 3,260 crore
- The shares were bought on September 29, 2026, as per company filing
- Each equity share has a face value of USD 0.0864
Tata Steel has acquired around 393 crore shares of its Singapore-based subsidiary T Steel Holdings Pte Ltd (TSHP) for Rs 3,260 crore, the company informed the exchanges on Tuesday, September 29.
The filing read, "the Company has today i.e., on September 29, 2026, acquired 393,51,85,186 equity shares of face value USD 0.0864 each aggregating to $340 million (Rs 3,260.32 crore*) in TSHP. Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the Company."
The development comes after Tata Steel board at its meeting held on March 17, 2026 approved the infusion of additional funds of around $ 2 billion or Rs 18,488.10 crore, raising the aggregate investment limit up to $26.21 billion, via subscription to equity shares of TSHP in one or more tranches.
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In the previous quarter, Tata Steel Ltd. reported a 21% sequential decline in consolidated net profit as a one-time loss weighed on earnings, even as revenue and operating profit came in ahead of analysts' estimates.
The company repoted a consolidated net profit of Rs 2,318 crore for the first quarter, down 20.8% from Rs 2,926 crore in the previous quarter. The profit remained below the Bloomberg consensus estimate of Rs 2,759 crore, according to exchange filings and Street estimates.
Revenue from operations fell 3.9% quarter-on-quarter to Rs 60,794 crore from Rs 63,270 crore. However, the topline exceeded analysts' estimate of Rs 58,155 crore.Operating performance was relatively resilient. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 9,264 crore, down 5.7% sequentially from Rs 9,828 crore, but ahead of the estimated Rs 9,078 crore.
The company's EBITDA margin eased to 15.2% from 15.5% in the March quarter, broadly in line with expectations of 15.6%.
Tata Steel said its June-quarter earnings were impacted by a one-time loss of Rs 345 crore, which weighed on the bottom line during the period.
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