The board sanctioned the merger of Neelachal Ispat Nigam Ltd into Tata Steel. Neelachal Ispat Nigam Ltd, with net assets of ₹2,365.81 crore and revenue of ₹5,701.06 crore in FY25, will be consolidated into Tata Steel, whose net assets and revenue for the same period were ₹1,26,731.94 crore and ₹1,32,516.66 crore, respectively.
The merger will cancel Neelachal Ispat Nigam Ltd’s equity and preference shares without any cash outflow or issuance of new shares. Post-merger, Tata Steel’s shareholding structure remains unchanged.
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Separately, Tata Steel approved an investment of up to $2 billion (₹18,488.10 crore) in its wholly-owned foreign subsidiary, T Steel Holdings Pte Ltd, Singapore, from FY2026-27 in one or more tranches.
T Steel Holdings Pte Ltd will use the funds to support overseas subsidiaries, including capital expenditure, restructuring, and debt repayment. Tata Steel will retain 100% ownership of T Steel Holdings Pte Ltd, with necessary approvals from the Reserve Bank of India for investments exceeding $1 billion.
The board also approved the acquisition of 100% equity and preference shareholding in Medica TS Hospital Private Ltd from Manipal Hospitals Eastern India Private Ltd for ₹1.49 crore. The transaction includes 7,40,000 equity shares and 2,30,05,182 optionally convertible redeemable preference shares.
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Medica TS Hospital operates a 100-bed multi-speciality hospital in Kalinganagar, Odisha, providing healthcare to Tata Steel employees, contractors, and the local community. The acquisition is expected to be completed within a month.
Shares of Tata Steel Ltd ended at ₹195.40, up by ₹8.25, or 4.41%, on the BSE today, March 17.
(Edited by : Shoma Bhattacharjee)
First Published: Mar 17, 2026 7:23 PM IST
