Tata Steel will consolidate all steel companies of the Tata Group under its own name. The spotlight will be on TRF, whose shareholders will receive 17 shares of Tata Steel for every 10 shares held.
To buy to sell Tata Steel to share
Tata Steel, one of India’s largest steel producers, has announced that it will consolidate all steel companies within the Tata Group into itself.
Under this program, the following companies will be merged into Tata Steel:
The scheme is subject to the approval of the majority shareholders of all the companies in question, the market regulator SEBI and the stock exchanges, as well as other authorities, as appropriate.
Here is the stock exchange ratio for all the companies in question:
whose share price development lately has been the subject of several discussions.
Shares of TRF had doubled over a period of six trading sessions between September 13 and September 20. The company attributed the move to the stock’s removal from Stage 3 of graduated surveillance measures, under which trading in the stock could only take place once a week. .
As of March 31, 2022, TRF had a net worth of negative Rs 294 crore. Since September 13, TRF shares have been locked in upper circuits of 20% (twice), 10% (three times) and 5% (three times), based on the revision of circuit filters for the stock .
First post: STI