Tata Steel has completed the acquisition of the entire stake in Medica TS Hospital Private Limited, making it a wholly owned subsidiary. The acquisition, finalised on March 30, 2026, involved the purchase of securities from Manipal Hospitals Eastern India Private Limited for a total consideration of ₹1.49 crore.
The transaction included the acquisition of 7,40,000 equity shares, each with a face value of ₹10, representing a 49% equity stake in Medica TS Hospital. Additionally, Tata Steel acquired 2,30,05,182 Optionally Convertible Redeemable Preference Shares (OCRPS) with a 0.01% rate, constituting 31.85% of the preference share stake.
With this acquisition, Tata Steel now holds 100% of both the equity shareholding and the OCRPS in Medica TS Hospital. This strategic move aligns with the terms and conditions outlined in the Share Purchase Agreement executed on March 17, 2026.
The disclosure of this acquisition complies with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).