The board of directors of Tata Steel BSL Limited has approved the merger of the company with Tata Steel Limited, a company statement said on Wednesday, November 3.
The merger of the company is as per sanction of India’s National Company Law Tribunal, the company said.
Tata Steel BSL Limited is India’s fifth-largest steel producer with an installed capacity of 5.6 million mt per year.
In 2018, Tata Steel Limited acquired Bhushan Steel Limited (BSL) through the bankruptcy resolution process and renamed the company Tata Steel BSL Limited.