Tata Steel Increases Stake in CPDPL to 57.5%

Tata Steel Limited has increased its equity stake in its subsidiary, Creative Port Development Private Limited (CPDPL), from 51% to 57.5%. This increase was achieved through the conversion of 25,10,830 Optionally Convertible Redeemable Preference Shares (OCRPS) into 38,222 equity shares. The conversion ratio was 1 equity share for every 65.69 OCRPS. CPDPL is engaged in the development of a Port Project through its subsidiary, Subarnarekha Port Private Limited. The company also received cash settlement for fractional entitlements. This transaction complies with applicable laws and regulations.