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News Details

News Details

14/03/2019 16:36

Tata Steel - First And Final Call On Partly Paid Shares Of Tata Steel Limited

The Company issued and allotted fully paid and partly paid equity shares of the Company, for ?12,800 crore pursuant to a simultaneous but unlinked rights issue of fully paid and partly paid equity shares of the Company ('Rights Issue').

Pursuant to applicable law, the first and final call on partly paid shares was to be made within 12 months from the date of allotment.

In terms of regulatory clarification(s) received, the Company is permitted to make the call on partly-paid shares beyond 12 months if (i) the issue size exceeds ?500 crore and (ii) the Company complies with the requirement under the applicable SEBI (Issue of Capital and Disclosure Requirements) Regulations regarding monitoring agency. The Company is in compliance with these conditions.

Accordingly, the Company will, at the appropriate time as determined by the Board of Directors, make the first and final call on the partly paid shares of the Company and appropriate disclosures in this regard, will be made.