Share Market News: Tata Group All Set For Its Mega-Merger, Know Details

Tata Group News: Tata Group is going to have a big merger of 7 metal companies of the Tata Steel group. In a board meeting on 24 January, the record date has been set as 6 February 2024. The 7 subsidiary companies of Tata which are being merged are Tata Steel Long Products, Tata Tin Plate, Tata Metallics, TRF Limited, The Indian Steel and Wire Products Limited, i.e. ISWP, Tata Steel Mining, and S&T Mining. 

Tata Steel Merger Details

In 2022, the company said that this merger is being done to increase business capability, improve the supply chain, and reduce costs. Setting a record date means that on the day of the merger, the shares of the company whose shares are in exchange for the shares of the merging company shares will be given. Along with this, its ratio is also set. For example, by 6 February 2024, if a shareholder has 10 shares of Tata Metallics, then the shareholder will get 79 shares of Tata Steel in return.