Key Details

Symbol (NSE): TATASTEEL

Corporate Action: Scheme of Amalgamation

Record Date: Not Specified

Nature of Scheme: Amalgamation of wholly-owned subsidiary into holding company

Entities Involved:

  • Transferor Company: Rujuvalika Investments Limited (CIN: U67120MH1988PLC049872)
  • Transferee Company: Tata Steel Limited (CIN: L27100MH1907PLC000260)

Demerged Company: Rujuvalika Investments Limited

Resulting Company: Tata Steel Limited

Share Entitlement Ratio: No new shares shall be issued nor payment shall be made in cash whatsoever by the Transferee Company in lieu of cancellation of shares of the Transferor Company. All shares of Rujuvalika held by Tata Steel shall stand cancelled without any further application, act or deed.

Implied Capital Structure Impact: The authorised share capital of Rujuvalika Investments Limited shall stand merged with the authorised share capital of Tata Steel Limited representing 'Ordinary' shares with a face value of ₹1 each. Consequently, the authorized share capital of Tata Steel Limited shall stand suitably increased.

Post-Allotment Listing Plan: Rujuvalika Investments Limited will be dissolved without winding up. No separate listing for resulting entity as it merges into existing listed entity Tata Steel Limited.

Regulatory and Approval Status:

  • NCLT approval obtained: Order pronounced on October 1, 2026 by Mumbai Bench (Hon'ble Shri Ashish Kalia, Member Judicial and Hon'ble Shri Banwari Lal Meena, Member Technical)
  • RBI No-Objection Certificate obtained: Dated June 18, 2024
  • Regional Director (Western Region) filed report dated August 21, 2026 with observations
  • Official Liquidator report dated July 24, 2026 stated affairs not conducted prejudicially to public interest
  • No objections received from any party

Effective Date: The Scheme is effective from the Appointed Date of April 1, 2023

Financial Rationale:

  • Assist in simplifying the corporate structure of Tata Steel group and reduction of shareholding tiers
  • Reduction in the multiplicity of legal and regulatory compliances required at present
  • Reduction in the number of legal entities within the Tata Steel group
  • Result in savings of administration, operations, compliances, and other costs associated with managing separate entities
  • The amalgamation is in the interest of the shareholders and all other stakeholders

Impact on Shareholders:

  • All shares of Rujuvalika Investments held by Tata Steel Limited shall stand cancelled
  • No change in ownership structure for public shareholders of Tata Steel Limited
  • The 11,68,393 'Ordinary' equity shares of Tata Steel Limited held by Rujuvalika Investments shall stand cancelled upon effectiveness of the Scheme
  • All liabilities and debts of Rujuvalika Investments shall be transferred to Tata Steel Limited

Accounting Treatment: The Transferee Company shall account for the amalgamation using the "Pooling of Interest Method" prescribed under Appendix C of India Accounting Standard AS - 103 "Business Combinations".