Tata Steel Limited has informed the Exchange about acquisition of equity stake in TM International Logistics Limited
TATASTEEL · price
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Tata Steel's Board approved acquiring a 23% equity stake (41,40,000 shares) in TM International Logistics Limited (TMILL) from IQ Martrade for ₹335 crore. TMILL is a joint venture currently held 51% by Tata Steel, 26% by NYK Holding Europe, and 23% by IQ. Post-acquisition, Tata Steel's stake will increase to 74% while NYK holds 26%. The existing joint venture agreements with IQ will be terminated. The transaction is subject to regulatory approvals including Competition Commission of India. Separately, the Board also approved FY2026 financial results (standalone net profit ₹16,065 crore), recommended dividend of ₹4 per share, and provided an update on Tata Steel Netherlands facing environmental regulatory actions at its IJmuiden plant.
The acquisition strengthens Tata Steel's control over its logistics subsidiary. The ₹335 crore deal increases TMILL stake to 74%, with potential for future consolidation benefits. However, the stock may face headwinds from the Tata Steel Netherlands environmental compliance issues and potential early closure of coke and gas plants.