Shares of Tata Steel closed at ₹187.95 on the BSE, slipping 1.05% after the board‑approved acquisition announcement.
Tata Steel purchased 393.52 crore shares of its wholly‑owned foreign subsidiary, T Steel Holdings Pte. Ltd, for $340 million—₹3,260 crore at the RBI’s September 25, 2026 rate of ₹95.8918 per dollar.
The move follows a March 17 board resolution that allows an additional $2 billion infusion into TSHP, raising the aggregate investment limit to $26.21 billion.
Earlier this month, the company secured a favourable Income Tax Appellate Tribunal ruling that reduced its FY2009 interest‑expense exposure by ₹427 crore, lowering total exposure to ₹1,259 crore.
Analysts view the capital infusion as a balance‑sheet booster that could underpin future expansion, while the tax relief is expected to improve cash‑flow margins in the coming quarter.