January 1, 2021

The Secretary, Listing Department

The Manager, Listing Department

BSE Limited

National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers,

Exchange Plaza, 5th Floor, Plot No. C/1,

Dalal Street,

G Block, Bandra-Kurla Complex, Bandra (E),

Mumbai - 400 001.

Mumbai - 400 051.

Maharashtra, India.

Maharashtra, India.

Scrip Code: 500470/890144

Symbol: TATASTEEL/TATASTLPP

Dear Madam, Sirs,

Sub: Transfer of stake held by Tata Steel Limited (TSL/Company) in Jamshedpur Continuous Annealing and Processing Company Private Limited (JCAPCPL) and Tata BlueScope Steel Private Limited (TBSPL) to Tata Steel Downstream Products Limited (TSDPL), a wholly owned subsidiary of TSL

This has reference to our Press Release dated November 13, 2020. As part of the earnings release, the Company had announced that it is reorganizing its India footprint into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders.

As part of the said initiative, the Company today transferred the 51% stake it holds in Jamshedpur Continuous Annealing and Processing Company Private Limited (JCAPCPL) and 50% stake it holds in Tata BlueScope Steel Private Limited (TBSPL) to Tata Steel Downstream Products Limited (TSDPL), a wholly owned subsidiary of the Company.

a. The details of transfer of 51% stake in JCAPCPL are as under:

SN.

Particulars

Details

Tata Steel Limited held 73,03,20,000 equity

The amount and percentage of the

shares of ₹10/- each in Jamshedpur Continuous

Annealing and Processing Company Private

turnover or revenue or income and

Limited (JCAPCPL). JCAPCPL is a joint venture

1

net worth contributed by such unit

company in which Tata Steel holds 51%. As on

or division of the listed entity during

March 31, 2020, the net worth of the JCAPCPL

last Financial Year

as considered in Tata Steel's financial

statements was ₹428.60 crore.

2

Date on which the agreement for

NA

sale has been entered

3

The expected date of completion

The transaction has been completed on

of sale / disposal

January 1, 2021.

Registered Office Bombay House 24 Homi Mody Street Fort Mumbai 400 001 India

Tel 91 22 6665 8282 Fax 91 22 6665 7724 Website www.tatasteel.com

Corporate Identity Number L27100MH1907PLC000260

The consideration is in the form of 6,46,53,134

(rounded off) equity shares of Tata Steel

Downstream Products Limited allotted to Tata

Consideration received from such

Steel Limited at ₹129 per equity share (includes

4

face value of ₹10 each) being the fair value as

sale / disposal

determined by an Independent Registered

Valuer. TSDPL is currently a wholly owned

subsidiary (WOS) of Tata Steel Limited and

continues to be a WOS.

Brief details of buyers and whether

5

any of the buyers

belong to the

Tata

Steel Downstream

Products Limited,

a

Promoter / Promoter Group/ Group

wholly owned subsidiary of Tata Steel Limited.

Companies. If yes, details thereof;

Whether the transaction would fall

6

within Related Party Transaction?

Yes, the transaction is with a Related Party and

If yes, whether the same is done at

on arms-length basis.

"arms-length"

Additionally, in case of a slump

sale,

indicative

disclosures

7

provided

for amalgamations /

Not applicable

merger, shall be disclosed by the

listed entity with respect to such

slump sale.

b. The details of transfer of 50% stake in TBSPL are as under:

SN.

Particulars

Details

Tata Steel Limited held 43,30,00,000 equity

The amount and percentage of the

shares of ₹10/- each in Tata BlueScope Steel

turnover or revenue or income and

Private Limited (TBSPL). TBSPL is a joint

1

net worth contributed by such unit

venture company in which Tata Steel holds

or division of the listed entity during

50%. As on March 31, 2020, the net worth of the

last Financial Year

TBSPL as considered in Tata Steel's financial

statements was ₹469.97 crore.

2

Date on which the agreement for

NA

sale has been entered into

3

The expected date of completion of

The

transaction has

been completed

on

sale / disposal

January 1, 2021.

STEEL LIMITED

The consideration is in the form of 10,94,24,806

equity shares of Tata Steel Downstream

Products Limited allotted to Tata Steel Limited at

4

Consideration received from such

₹129 per equity share (includes face value of

sale / disposal

₹10 each) being the fair value as determined by

an Independent Registered Valuer. TSDPL is

currently a wholly owned subsidiary (WOS) of

Tata Steel Limited and continues to be a WOS.

Brief details of buyers and whether

5

any of the buyers belong to the

Tata Steel Downstream Products Limited, a

Promoter / Promoter Group/ Group

wholly owned subsidiary of Tata Steel Limited.

Companies. If yes, details thereof;

Whether the transaction would fall

6

within Related Party Transaction?

Yes, the transaction is with a Related Party and

If yes, whether the same is done at

on arms-length basis.

"arms-length"

Additionally, in case of a slump

sale,

indicative

disclosures

7

provided

for amalgamations /

Not applicable

merger, shall be disclosed by the

listed entity with respect to such

slump sale.

The additional details of the abovementioned transactions are as hereunder:

SN.

Particulars

Details

The Company is reorganizing its India footprint

1.

Details

and

reasons

for

into 4 clusters to drive scale, synergies and

restructuring

simplification and to create value for all

stakeholders.

2.

Quantitative and/

or

qualitative

TSDPL has been identified as the anchor entity

effect of restructuring

for downstream business. Accordingly, the

Details of

benefit, if

any, to

the

Company's investment(s) held in entities

promoter/promoter

group/group

3.

forming part of downstream business are being

companies

from

such proposed

consolidated with TSDPL.

restructuring

STEEL LIMITED

Brief details of change in

4. shareholding pattern (if any) of all entities

  1. Tata Steel Limited
    There is no change in shareholding pattern of Tata Steel Limited.
  2. Tata Steel Downstream Products Limited (TSDPL)
    Post the allotment of 17,40,77,940 equity shares, Tata Steel's shareholding in TSDPL stands increased to 24,23,27,940 equity shares. TSDPL continues to be a wholly owned subsidiary of Tata Steel Limited.
  3. JCAPCPL

Shareholder

Pre

Post

(%)

(%)

Tata Steel

51

-

TSDPL

-

51

(WOS of Tata Steel)

d. TBSPL

Shareholder

Pre

Post

(%)

(%)

Tata Steel

50

-

TSDPL

-

50

(WOS of Tata Steel)

This disclosure is being made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This is for your information and records.

Yours faithfully,

Tata Steel Limited

Parvatheesam Kanchinadham

Company Secretary &

Chief Legal Officer (Corporate & Compliance)

STEEL LIMITED

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Tata Steel Ltd. published this content on 01 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2021 08:15:05 UTC