Tata Steel completes 23 percent stake buy in TMILL, makes it subsidiary
TATASTEEL · price
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Tata Steel has completed the acquisition of 23 percent equity stake (41,40,000 shares of Rs 10 face value) in TM International Logistics Limited (TMILL) for an aggregate consideration of Rs 335 crore from IQ Martrade Holding. CCI approval was received on August 18, 2026. Post acquisition, Tata Steel holds 74 percent in TMILL (up from 51 percent), making it a subsidiary, with NYK Holding Europe holding the remaining 26 percent. IQ has exited the joint venture and the earlier JV agreement stands terminated.
Tata Steel consolidates control of its logistics arm TMILL. Rs 335 crore cash outflow is modest; impact on consolidated financials likely limited but improves supply chain integration.