India’s Tata Steel Mining, subsidiary of Tata Steel Limited, has completed acquisition of a 10 percent equity stake in Rohit Ferro Tech Limited (RFTL), making it a wholly-owned subsidiary, a company statement said on Friday, June 24.
Earlier on April 12 this year, TSM had bought 90 percent of equity in RFTL through the bankruptcy resolution process, the company said.
The purchase of the remaining stake in RFTL and making it a wholly-owned subsidiary of TSM will enable a fresh infusion of funds into the former and bolster Tata Steel’s manufacturing capacities and portfolio of ferroalloys, company sources said.
