Tata Steel hikes stake in JV - Medica TS Hospital

Tata Steel has increased its stake holding from 26% to 51% in joint venture company, Medica TS Hospital on conversion of:

a. 5,102 Optionally Convertible Debentures ('OCD') of Rs 1,000 each, fully paid-up, held in MTSHPL into 5,10,200 equity shares of face value Rs 10 each, fully paid-up, ranking pari passu with the existing equity shares of MTSHPL; and

b. 4,92,298 OCDs of Rs 1,000 each, fully paid-up, held in MTSHPL into 4,92,29,800 0.01% Optionally Convertible Redeemable Preference Shares ('OCRPS') of face value Rs 10 each, fully paid-up of MTSHPL.

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