India’s Tata Steel Limited has acquired an additional equity stake in Tata Steel Mining Limited (TSML) to make it a wholly-owned subsidiary, a company regulatory filing said on Thursday, June 16.
According to the filing, the additional equity stake was acquired by Tata Steel through a rights issue of equity shares of TSML.
TSML is a global supplier of raw materials for stainless steel, alloy steel and refractory manufacturers and currently operates three chromite mines and one ferroalloy plant and has partnerships with eight external ferro processing centers for the manufacturing of ferrochrome.