Tata Steel to absorb 7 group companies, simplify holding structure

'Move would also drive synergies' and increase value for shareholders, says company

In a major move to consolidate its metals and mining businesses and simplify the holding structure, the Tata Steel board has approved the merger of six subsidiaries and an associate company into the steel major. The decision involves listed entities — Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, and TRF.  

Tata Steel owns a majority stake in its subsidiaries — Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, The Indian Steel & Wire Products, Tata Steel Mining, and S&T Mining. The board also approved the amalgamation of associate firm TRF (34.11 equity holding) into