Tata Steel to infuse Rs 6,000 crore in Neelachal, PSU bought in 2022
Thursday, 1 August 2024
Tata Steel invested Rs 6,000 crore in Neelachal Ispat Nigam, increasing its stake to nearly 100%. The investment is aimed at redeeming non-convertible preference shares and boosting corporate purposes. Neelachal's financials have shown improvement under Tata Steel. Tata Steel also plans to acquire a 26% stake in Tata Power's renewable energy arm, TP Parivart.
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