Tata Steel Board Approves Scheme Of Equity Share - July 29, 2009

The board of Tata Steel and Hooghly Met Coke & Power Company have approved scheme of amalgamation of HMPCL with the company with effect from 01 April 2009. HMPCL is a wholly owned subsidiary of the company with its registered office in West Bengal.

Upon the scheme coming into effect and in terms of the scheme of amalgamation, all assets and liabilities of HMPCL will stand transferred to the company at their book values and all equity shares of HMPCL shall stand cancelled.

No equity shares will be issued by the company in lieu of equity shares of HMPCL. The scheme is subject to and conditional upon requisite approvals and sanctions being received thereof.

This was approved at the board meeting held on 29 July 2009.

Tata Steel To Issue GDR Of Equity Share - July 21, 2009

The committee of Tata Steel has approved the launch of a GDR issuance. The company has priced an equity share offering in the form of Global Depository Receipts (GDRs) for a gross amount of US$ 500 million. The company will be issuing 65,410,589 GDRs, each GDR representing one ordinary equity share. This was approved at the committee meeting held on 20 July 2009.