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Tata Steel approves mega merger of 7 subsidiaries with itself
The nod was received on Thursday at a meeting of its board members
Photo: Reuters
Tata Steel's board has approved the amalgamation of seven subsidiaries with itself, the steelmaker said in a regulatory filing to the stock exchanges on Friday.
The nod was received on Thursday at a meeting of its board members.
These seven companies are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining, and the S&T Mining Company, the same filing said.
Photo: @_anujsinghal/Twitter
Each scheme was reviewed and recommended to the board by the Committee of Independent Directors and the audit committee of the company, it added.
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