Scrip Code / Symbol:

BSE: 500470 | NSE: TATASTEEL

Nature and Purpose of the Meeting:

The Committee of Directors meeting was held to consider and approve the divestment of Tata Steel's entire stake in its wholly owned subsidiary, Jamshedpur Football and Sporting Private Limited (JFSPL). The Committee was constituted by the Board of Directors on July 30, 2026, specifically for this purpose.

Details of Resolutions Passed:

  • The Committee approved the transfer of 100% equity stake (4,08,00,000 equity shares of face value ₹10 each) in JFSPL to Churchill Brothers Sports Club Private Limited.
  • The transaction is for a nominal cash consideration of ₹100.
  • Tata Steel Limited and Churchill Brothers entered into a Share Purchase Agreement on August 14, 2026, outlining the terms and conditions.

Financial Impact:

  • Total consideration received: ₹100
  • JFSPL's financial contribution: Turnover of ₹32.23 crore for FY2025-26, representing 0.01% of Tata Steel's consolidated turnover.
  • Net worth of JFSPL as on March 31, 2026: ₹(5.8) crore (negative)

Timing of the Meeting:

The meeting started at 12:00 noon IST and concluded at 12:15 PM IST on August 14, 2026.

Compliance References:

This disclosure is made in compliance with:

  • Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Additional Material Disclosures:

  • Expected completion date: August 31, 2026, subject to satisfaction of conditions precedent including approval from All-India Football Federation and completion of customary actions.
  • Buyer details: Churchill Brothers Sports Club Private Limited operates 'Churchill Brothers FC' with four decades of football legacy in Goa. The buyer is not related to Tata Steel's Promoter/Promoter Group.
  • Transaction type: Not a related party transaction. Does not form part of any scheme of arrangement.
  • The transaction includes transfer of ISL sporting licence and contracts of 12 players and 2 coaches to Churchill Brothers.
  • Tata Steel stated it will continue focusing on grassroots football and youth development through Tata Football Academy and other initiatives.

Sections Not Covered:

  • Use of proceeds from the transaction is not mentioned in the document.
  • Specific regulatory approval requirements beyond AIFF are not detailed.