Tata Metaliks fixes Feb 6 as record date for merger with Tata Steel

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Tata Metaliks has fixed February 6 as the record date for the proposed merger with Tata Steel.

According to the scheme of amalgamation, TML shareholders will be entitled to receive fully paid-up ordinary equity shares of Tata Steel Ltd on face value ₹1 each, in the share exchange ratio of 79:10 (79 shares of Tata Steel for every 10 held in TML).

It may be recalled that Tata Group had decided to merge seven of its metal companies — both listed and unlisted — into Tata Steel. They are Tata Steel Long Products Ltd, Tinplate Company of India Ltd, Tata Metaliks Ltd, TRF Ltd, Indian Steel & Wire Products Ltd, Tata Steel Mining Ltd, and S&T Mining Company Ltd.

Earlier this month, the National Company Law Tribunal (NCLT) has sanctioned the amalgamation of Tata Metaliks with Tata Steel.