Tata Steel to merge Neelachal Ispat Nigam; approves up to $2 billion for Singapore arm

The board of Tata Steel Limited on Tuesday approved the merger of its wholly owned subsidiary Neelachal Ispat Nigam Limited (NINL) with itself and also cleared an investment of up to $2 billion in its overseas arm T Steel Holdings Pte. Ltd., according to a regulatory filing.

The company said the board approved the Scheme of Amalgamation between Neelachal Ispat Nigam Limited and Tata Steel Limited along with their respective shareholders.

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The merger will be subject to the receipt of required approvals, permissions and sanctions from regulatory and statutory authorities, as mandated under applicable laws.

Separately, the board approved an investment of up to $2 billion (around ₹18,488.10 crore) in T Steel Holdings Pte. Ltd., a wholly owned foreign subsidiary of Tata Steel. The investment will be made through subscription to equity shares of the subsidiary in one or more tranches beginning FY2026-27.

In another development, the board approved the acquisition of securities in Medica TS Hospital Private Limited, currently a subsidiary of Tata Steel, from Manipal Hospitals Eastern India Private Limited.

The acquisition will be carried out for an aggregate consideration of ₹1.49 crore and includes 7,40,000 equity shares of face value ₹10 each, representing a 49% equity stake in Medica TS Hospital.

It also includes 2,30,05,182 optionally convertible redeemable preference shares with a face value of ₹0.01 each, representing 31.85% of the preference share capital of the company.

Following completion of the transaction, Medica TS Hospital will become a wholly owned subsidiary of Tata Steel.