Tata Steel Regulatory News (TTST)

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Particulars

Details

1.

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

Ceramat Private Limited ("CPL") was incorporated on November 2, 2021, for the purpose of advanced ceramics with health care focus. CPL is jointly promoted byMr. Sabyasachi Roy and Mr. Tushar Gothi.

As of date, CPL has not commenced operations.

2.

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 "arms-length"

No

3.

Industry to which the entity being acquired belongs

Bio-Ceramics

4.

Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)

Tata Steel Limited has identified Advanced Ceramics as one of the new materials for strategic growth. Within Advanced Ceramics, the first sector of choice is in medical materials owing to high growth potential and non-cyclical nature. Tata Steel Limited aspires to setup a world class facility to produce medical materials and use CPL as a special purpose vehicle for this purpose. The facility shall focus on producing Hydroxyapatite - a calcium phosphate-based ceramic used as bone replacement.

The promoter of CPL are amongst the very few with such proven capability.

5.

Brief details of any governmental or regulatory approvals required for the acquisition

None

6.

Indicative time period for completion of the acquisition

Within 60 days from the date of signing of the agreement

7.

Nature of consideration - whether cash consideration or share swap and details of the same

Cash

8.

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

₹90,000/-

9.

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

90% equity shares of CPL

10.

Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)

CPL was incorporated onNovember 2, 2021 in India, for the purpose of advanced ceramics with health care focus. CPL is jointly promoted byMr. Sabyasachi Roy and Mr. Tushar Gothi. Mr. Sabyasachi Roy is a ceramic technologist and an entrepreneur andMr. Tushar Gothi has been associated with ceramic business for 16 years.

As on date, CPL has not commenced operations.

CPL promoters have the core competence of various oxide ceramic composition manufacturing through process routes like slip casting, gel casting, powder compaction, spray drying and vibro-casting instrumental in advanced ceramics manufacturing.