All 7 Metal Companies Of Tata Group To Merged Into Tata Steel

The 7 metal subsidiary companies of Tata Group are being merged into Tata Steel Ltd. Tata Steel share price skyrocketed just after the announcement.

The Tata Group’s board of directors has given its approval for all of its metal businesses to be combined into Tata Steel. 

The merger of the business’s seven metal subsidiaries with its main metal company, Tata Steel Limited, was approved by the company board during its meeting on Thursday.

List of 7 Metal Companies of Tata Group

The Board of Directors of the Company (“Board”) at its meeting on 22nd September, 2022 among other things.

The merger or amalgamation reviewed and confirmed the following Seven (7) Schemes of Amalgamation of the following, according to information provided by Tata Group to Indian stock market exchanges.

1. Tata Steel Long Products Limited
2. The Tinplate Company of India Limited
3. Tata Metaliks Limited
4. TRF Limited (TRF)
5. The Indian Steel & Wire Products Limited (ISWP)
6. Tata Steel Mining Limited (TSML)
7. S & T Mining Company Limited (S&T Mining)

Equity Holding Percentage

Tata Steel owns a majority stake in each of the subsidiaries, which also include Tata Steel Mining but also S&T Mining Company. 

Tata Steel Long Products (74.91% equity holding), The Tinplate Company of India (74.96%), Tata Metaliks (60.03%), The Indian Steel & Wire Products (95.01%), and Tata Metaliks each have a stake in Tata Steel (both wholly owned subsidiaries). The Board also authorized the merger of Tata Steel and TRF Ltd (34.11% equity holding).

According to Tata Steel, each amalgamation plan will now proceed through a specific regulatory approval process that includes approval from stock exchanges and the NCLT.

According to a report by an independent valuer, holders of Tata Steel Long Products will receive 67 shares of Tata Steel for every 10 shares they own.

In a similar vein, 33 shares of Tata Steel will be issued for every 10 shares of the Tinplate Company of India.

Investors in TRF Ltd will receive 17 shares of Tata Steel for every 10 shares held by them in addition to 79 shares of Tata Steel for every ten shares of Tata Metaliks.