Tata Steel Ltd allots 56,02,985 fully paid-up shares against existing partly paid-up shares

The Stakeholders' Relationship Committee ("Committee"), duly authorized by the Board of Directors of Tata Steel Ltd, at its meeting held today approved the conversion of 56,02,985 partly paidup equity shares of face value ₹10 each (₹2.504 paid-up) into fully paid-up equity shares of face value ₹10 each on which the first and final call money of ₹461/- per share (comprising face value of ₹7.496 per share and securities premium of ₹453.504 per share) has been received. The converted shares will rank pari passu with the existing fully paid-up equity shares and shall be available to trade under the ISIN INE081A01012, subject to completion of necessary corporate actions and receipt of listing and trading approvals.

In relation to outstanding partly paid-up equity shares on which the first and final call money remains unpaid, the Committee approved the sending of a second Reminder-cum-Forfeiture Notice to the holders of such partly paid up equity shares. The period for payment of the first and final call money pursuant to the second Reminder-cum-Forfeiture Notice will be between July 5, 2021 through July 19, 2021.

Further details in this regard will be included in the second Reminder-cum-Forfeiture Notice that will be sent in due course, to the holders of partly paid-up shares, on which the first and final call money remains unpaid.

Shares of TATA STEEL LTD. was last trading in BSE at Rs.1132.1 as compared to the previous close of Rs. 1178.65. The total number of shares traded during the day was 1770430 in over 41501 trades.

The stock hit an intraday high of Rs. 1189 and intraday low of 1115. The net turnover during the day was Rs. 2024099749.

Source : Equity Bulls

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