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Tata Steel BSL board approves issuance of 11.09% shares to Tata Steel

Steel News - Published on Tue, 12 Mar 2019

Image Source: Update Odisha
Tata Steel BSL announced that its board has approved an increase in the company's authorized share capital, and given nod for issuance of 11.09% shares to Tata Steel on a private placement basis. The proposals were approved in an extraordinary general meeting, chaired by Tata Steel BSL Chairman Mr TV Narendran.

Ffollowing business were transacted at the meeting

Increase in the Authorized Share Capital of the Company and consequential amendment of the Capital Clause in the Memorandum of Association of the Company.

Issue, offer and allot 11.09% Non-Convertible Redeemable Preference Shares to Tata Steel Limited, on private placement basis.

Issue, offer and allot 8.89% Optionally Convertible Redeemable Preference Shares to Tata Steel Limited, on private placement basis

Shifting of the Registered Office of the Company from the National Capital Territory of Delhi to the State of Maharashtra

Insertion of a new Article in the Articles of Association of the Company

Approval of Material Related Party Transaction(s) with T S Global Procurement Company Pte Ltd

Source :

Posted By : Ratan Singh on Tue, 12 Mar 2019
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