Tata Steel : Acquisition of Bhushan Steel Limited ("BSL")

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May 18, 2018

The Secretary, Listing Department BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street,

Mumbai -400 001, India Scrip Code: 500470/890144

Dear Sir, Madam,

The Manager, Listing Department

National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot C/1

G Block, Bandra Kurla Complex, Bandra East Mumbai -400 051, India

Scrip Code: TATASTEEL/TATASTEELPP

Sub: Acquisition of Bhushan Steel Limited ("BSL")

We refer to our press release dated May 15, 2017 regarding the above. In this connection we provide the below details:

SN I Particulars

Name of the target entity, details in brief such as size. turnover etc.

Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired?

If yes, nature of interest and details thereof and whether the same is done at "arm's length"

Industry to which the entity being acquired belongs

Details

BSL is a listed entity having a crude steel capacity of around 5.6 million tons along with downstream facilities of cold rolled products of around 2 mtpa. The company has its upstream facilities in Meramandali, Odisha and downstream facilities in Khopoli, Maharashtra and Sahibabad, Uttar Pradesh.

The turnover for FY 17 is Rs. 15,099 croreNoManufacturing of steel.

Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if

The acquisition provides an inorganic growth opportunity to Tata Steel to grow in its existing

TATA STEEL LIMITED

Registered Office Bombay House 24 Homi Mody Street Mumbai 400 001 India

Tel 91 22 6665 8282 Fax 91 22 6665 7724 websitewww.tatasteel.com

Corporate Identity Number L27100MH1907PLC000260

TATA

its business is outside the main line of line of business in flat products and leverage

business of the listed entity)

operating synergies.

Brief details of any governmental or All required approvals like Competition

5. regulatory approvals required for the acquisition

6.

Indicative time period for completion of the acquisition

Nature of consideration - whether cash

Commission of India and NCLT have been received.

Acquisition has been completed

7.

consideration or share swap and details The consideration is in form of cash of the same

8.

Cost of acquisition or the price at which the shares are acquired

9.

Percentage of shareholding I control acquired and / or number of shares acquired

Shares have been acquired through primary subscription which has been done at the face value of Rs 2 per share.

Settlement of the amounts equivalent to Rs.

35,200 crore towards financial creditors of BSL is being undertaken as per the terms of the resolution plan (submitted by Tata Steel Limited and approved by the National Company Law Tribunal, Principal Bench, New Delhi, vide its Order dated May 15, 2018) and the corresponding transaction documents.

72.65% comprising of 79,44,28,986 shares of face value Rs. 2 each.

BSL was incorporated on January 7, 1983 and is currently 5th largest integrated steel plant in India with a crude steel capacity of around 5.6 million tons along with downstream facilities of

10.

Brief background about the entity cold rolled products of around 2 mtpa. It caters acquired in terms of products/line of majorly to the auto industry and consumer business acquired, date of incorporation, durable manufacturers through its upstream history of last 3 years turnover, country facilities in Meramandali, Odisha and in which the acquired entity has downstream facilities in Khopoli, Maharashtra presence and any other significant and Sahibabad, Uttar Pradesh.

information (in brief);

The company was admitted under Corporate Insolvency Resolution Process on July 26, 2017 as per the Insolvency and Bankruptcy Code, 2016. The National

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TATA

Company Law Tribunal (Principal Bench, New Delhi) vide its Order dated May 15, 2018, had approved the Resolution Plan submitted by Tata Steel Limited for acquiring the controlling stake of BSL.

BSL's revenues of last three consecutive year are as below:

• • FY 2016-17 Revenues: Rs. 15,099 crore

• • FY 2015-16 Revenues: Rs. 13,200 crore

• • FY 2014-15 Revenues: Rs. 10,659 crore

This is for your information and records.

This disclosure is made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you.

Yours faithfully, Tata Steel Limited

cao

Anita Kalyani

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Interim Company Secretary