Transaction Details

On November 7, 2026, Tata Steel Limited completed the acquisition of 38,222 equity shares (face value ₹10 each) in CPDPL. This acquisition resulted from the conversion of 25,10,830 Optionally Convertible Redeemable Preference Shares (OCRPS) of face value ₹100 each held by the Company. The conversion was executed at a fixed ratio of 1 equity share for every 65.69 OCRPS, as per the terms of the original issue.

Financial Consideration and Settlement

The conversion entitlement calculated to 38,222.41 equity shares. CPDPL allotted 38,222 full equity shares to Tata Steel and provided a cash settlement of ₹6,876.11 for the fractional entitlement of 0.41 shares.

Shareholding and Capital Structure Impact

Pre-Conversion Holding (Equity):

  • Tata Steel held 1,27,500 equity shares, representing a 51% stake in CPDPL.

Post-Conversion Holding (Equity):

  • Tata Steel holds 1,65,722 equity shares, representing a 57.5% stake in CPDPL.
  • This represents an increase of 6.5% in equity shareholding.

Preference Shareholding:

  • Pre-conversion: Tata Steel held 2,22,10,830 OCRPS (100% of preference share capital).
  • Post-conversion: Tata Steel holds 1,97,00,000 OCRPS (100% of preference share capital).
  • The reduction of 25,10,830 OCRPS reflects the amount converted.

CPDPL continues to remain a subsidiary of Tata Steel Limited post-transaction.

Target Entity Profile

Creative Port Development Private Limited (CPDPL)

  • Incorporated under the Companies Act, 1956.
  • Industry: Transportation and Storage (Port Development).
  • Business: Development of a Port Project through its subsidiary, Subarnarekha Port Private Limited.
  • Financial Profile (FY2025-26):
  • Turnover: ₹0 crore
  • Other Income: ₹3.69 crore
  • PAT: ₹0.31 crore
  • Net Worth: ₹222.01 crore
  • Historical Financials:
  • Turnover (FY2023-24, FY2024-25, FY2025-26): ₹0 crore for all three years.
  • Other Income: FY2023-24: ₹4.40 crore, FY2024-25: ₹3.67 crore, FY2025-26: ₹3.69 crore.

Regulatory and Governance Aspects

  • Related Party Transaction: The acquisition constitutes a related party transaction as CPDPL is a subsidiary of Tata Steel. The company states the transaction is in compliance with applicable laws.
  • Governmental Approvals: No governmental or regulatory approvals were required for this acquisition.
  • Objects of Acquisition: The acquisition was not strategic but mechanical, executed due to the conversion of OCRPS as per predefined terms.

Effective Date and Completion

The acquisition was completed on November 7, 2026. There was no indicative time period for completion as the transaction was executed immediately upon conversion.