The Tata group's board of directors has authorised the merger of all of the group's metal operations into Tata Steel. The business's board of directors authorised the merger of its seven metal subsidiaries with its parent metal company, Tata Steel Limited, during its meeting on Thursday. Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited, and S & T Mining Company Limited are the seven Tata group metal enterprises that will be amalgamated with Tata Steel.
Tata Group informed Indian stock markets of the decision, stating that the company's board of directors ("Board"), in its meeting on September 22, 2022, discussed and approved the following Seven (7) Schemes of Amalgamation of:
- 1] Transfer of Tata Steel Long Products Limited ('TSLP-Transferor Company') into and with Tata Steel Limited ('Transferee Company');
- 2] The Tinplate Firm of India Limited into and with its parent company, Tata Steel Limited ('Transferee Company');
- 3] Tata Steel Limited ('Transferee Company') into and with Tata Metaliks Limited ('TML-Transferor Company');
- 4] TRF Limited into and with Tata Steel Limited ('Transferee Company');
- 5] The transfer of Indian Steel & Wire Products Limited ('ISWP-Transferor Company') into and with Tata Steel Limited ('Transferee Company');
- 6] Tata Steel Mining Limited (‘TSML-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’); and
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7] S & T Mining Company Limited (‘S & T Mining-Transferor Company’) into and with its parent company, Tata Steel Limited (‘Transferee Company’).
Each Scheme is subject to approval by (a) the requisite majority of the shareholders of the respective Transferor Companies and Transferee Companies; (b) the Competent Authority (as defined in each of the Schemes); (c) SEBI; (d) The National Stock Exchange of India Limited and the BSE Limited (hereinafter collectively referred to as "Stock Exchanges"); and (e) such other regulatory and other statutory or governmental auth