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TATA
May 18, 2018
The Secretary, Listing Department The Manager, Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot C/1
Dalal Street, G Block, Bandra Kurla Complex, Bandra East
Mumbai —400 001, India Mumbai —400 051, India
Scrip Code: 500470/890144 Scrip Code: TATASTEEL/TATASTEELPP
Dear Sir, Madam,
Sub: Acquisition of Bhushan Steel Limited ("BSL")
We refer to our press release dated May 15, 2017 regarding the above. In this connection we
provide the below details:
SN I Particulars Details
BSL is a listed entity having a crude steel
capacity of around 5.6 million tons along with
downstream facilities of cold rolled products of
around 2 mtpa. The company has its upstream
Name of the target entity, details in brief
facilities in Meramandali, Odisha and
such as size. turnover etc.
downstream facilities in Khopoli, Maharashtra
and Sahibabad, Uttar Pradesh.
The turnover for FY 17 is Rs. 15,099 crore
Whether the acquisition would fall within
related party transaction(s) and whether
the promoter/ promoter group/ group
companies have any interest in the entity
No
being acquired?
If yes, nature of interest and details
thereof and whether the same is done at
"arm's length"
Industry to which the entity being
Manufacturing of steel.
acquired belongs
Objects and effects of acquisition
The acquisition provides an inorganic growth
(including but not limited to, disclosure of
opportunity to Tata Steel to grow in its existing
reasons for acquisition of target entity, if
TATA STEEL LIMITED
Registered Office Bombay House 24 Homi Mody Street Mumbai 400 001 India
Tel 91 22 6665 8282 Fax 91 22 6665 7724 website www.tatasteel.com
Corporate Identity Number L27100MH1907PLC000260
TATA
its business is outside the main line of line of business in flat products and leverage
business of the listed entity) operating synergies.
Brief details of any governmental or All required approvals like Competition
5. regulatory approvals required for the Commission of India and NCLT have been
acquisition received.
Indicative time period for completion of
6. Acquisition has been completed
the acquisition
Nature of consideration - whether cash
7. consideration or share swap and details The consideration is in form of cash
of the same
Shares have been acquired through primary
subscription which has been done at the face
value of Rs 2 per share.
Settlement of the amounts equivalent to Rs.
Cost of acquisition or the price at which 35,200 crore towards financial creditors of
8. the shares are acquired BSL is being undertaken as per the terms of
the resolution plan (submitted by Tata Steel
Limited and approved by the National
Company Law Tribunal, Principal Bench, New
Delhi, vide its Order dated May 15, 2018) and
the corresponding transaction documents.
Percentage of shareholding I control
72.65% comprising of 79,44,28,986 shares of
9. acquired and / or number of shares
face value Rs. 2 each.
acquired
BSL was incorporated on January 7, 1983 and
is currently 5th largest integrated steel plant in
India with a crude steel capacity of around 5.6
million tons along with downstream facilities of
Brief background about the entity cold rolled products of around 2 mtpa. It caters
acquired in terms of products/line of majorly to the auto industry and consumer
business acquired, date of incorporation, durable manufacturers through its upstream
10. history of last 3 years turnover, country facilities in Meramandali, Odisha and
in which the acquired entity has downstream facilities in Khopoli, Maharashtra
presence and any other significant and Sahibabad, Uttar Pradesh.
information (in brief);
The company was admitted under Corporate
Insolvency Resolution Process on
July 26, 2017 as per the Insolvency and
Bankruptcy Code, 2016. The National
TATA STEEL LIMITED
ilriP
TATA
Company Law Tribunal (Principal Bench, New
Delhi) vide its Order dated May 15, 2018, had
approved the Resolution Plan submitted by
Tata Steel Limited for acquiring the controlling
stake of BSL.
BSL's revenues of last three consecutive year
are as below:
• FY 2016-17 Revenues: Rs. 15,099 crore
• FY 2015-16 Revenues: Rs. 13,200 crore
• FY 2014-15 Revenues: Rs. 10,659 crore
This is for your information and records.
This disclosure is made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
Thanking you.
Yours faithfully,
Tata Steel Limited
cao 0
Anita Kalyani
Interim Company Secretary
TATA STEEL LIMITED
