The board of Tata Steel has approved three key decisions, including the amalgamation of a wholly owned subsidiary, a major capital infusion into an overseas arm, and the acquisition of a stake in a hospital company.
The company said it will proceed with a scheme of amalgamation of Neelachal Ispat Nigam Ltd (NINL) with itself. NINL operates an integrated steel plant at Kalinganagar with a rated crude steel capacity of 0.98 million tonnes per annum and holds a mining lease for a captive, fully mechanised open-cast iron ore mine in Odisha.
Tata Steel said the merger of entities engaged in similar and complementary businesses would create synergies and help consolidate its long products assets under a single entity, unlocking shareholder value. The move is also expected to simplify the group structure, improve working capital and cash flow management, reduce logistics costs, and enhance raw material security. Upon the scheme becoming effective, the entire paid-up equity and preference share capital of NINL will stand cancelled.
In a second decision, Tata Steel will invest ₹18,488.10 crore in T Steel Holdings Pte. Ltd (TSHP), its wholly owned overseas subsidiary, in one or more tranches from FY27 onwards. The funds will be used to support overseas operations, including capital expenditure, restructuring costs, and repayment or prepayment of existing debt. The company will continue to hold 100% equity in TSHP.
Separately, Tata Steel said it will acquire Medica TS Hospital Pvt. Ltd. from Manipal Hospitals Eastern India Pvt Ltd for an aggregate consideration of ₹1.49 crore, subject to regulatory approvals. Following completion, expected within a month, the hospital will become a wholly owned subsidiary of Tata Steel.
The company said the facility is the only multi-speciality hospital in Kalinganagar and plays a critical role in providing healthcare access to its employees, contract workers, their families and the local community. Full ownership is expected to strengthen healthcare access in the region.