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As part of the proposed merger with Tata Steel, Tata Metaliks has officially designated February 6 as the record date. Shareholders of Tata Metaliks will be eligible to receive 79 fully paid-up ordinary equity shares of Tata Steel for every ten shares held in Tata Metaliks, each with a face value of ₹1.
This merger is part of Tata Group's broader decision to consolidate seven of its metal companies, both listed and unlisted, into Tata Steel. The entities involved in this amalgamation include Tata Steel Long Products Ltd, Tinplate Company of India Ltd, Tata Metaliks Ltd, TRF Ltd, Indian Steel & Wire Products Ltd, Tata Steel Mining Ltd, and S&T Mining Company Ltd.
The National Company Law Tribunal (NCLT) recently approved the amalgamation of Tata Metaliks with Tata Steel, marking a significant milestone in the consolidation process.
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