Domestic steel major Tata Steel Ltd on Tuesday acquired 393.52 crore equity shares of its wholly owned foreign subsidiary T Steel Holdings Pte. Ltd for $340 million , as part of an additional funding plan approved by its board. The company said the shares have a face value of $0.0864 each and were acquired in TSHP on September 29.
Following the acquisition, T Steel Holdings Pte. Ltd will continue to remain a wholly owned subsidiary of Tata Steel. The acquisition is part of the board's March 17, 2026 approval to infuse additional funds of up to $2 billion into TSHP through subscription to equity shares in one or more tranches.
With the approval, Tata Steel's aggregate investment limit in T Steel Holdings Pte. Ltd. was enhanced to $26.21 billion. Earlier today, Tata Steel Ltd said it had received a favourable order from the Income Tax Appellate Tribunal for financial year 2009, allowing its claim for deduction of interest expenditure and reducing its tax exposure on the matter by around ₹427 crore to ₹1,259 crore."After several hearings, on February 27, 2026, the company received a favourable order dated February 20, 2026 from the Authority for FY2008 wherein the claim of deduction for interest expenditure was allowed.
The tax exposure for FY2008 is ₹215 crore. The company has made necessary disclosures in this regard to the stock exchanges on February 28, 2026," Tata Steel said in a regulatory filing. The tax dispute relates to the disallowance of interest expenditure under Section 36 of the Income Tax Act, 1961, on loans borrowed and used by the company for the acquisition of Corus Group Plc, its foreign subsidiary.
The aggregate tax exposure for the issue for FY2008 to FY2015 was around ₹1,901 crore. The company received the favourable order, dated September 18, 2026, on September 28. The FY2009 tax exposure is around ₹427 crore.