Tata Steel announced on Monday that the board of the company had fixed January 19 as the record date to determine shareholders of Tinplate Company of India Limited (TCIL) for allocating the company’s shares in accordance with the amalgamation scheme.

The Tata-group steel manufacturing company is currently undergoing the process of merging several of its subsidiary companies, TCIL, into its organisational structure.

According to an exchange filing by the company, the Board of Directors of Tata Steel has fixed the record date for the purpose of determining the shareholders of TCIL to be entitled to receive equity shares of the company as Friday, January 19, 2024.

The company will issue and allocate fully paid-up equity shares to TCIL shareholders whose names are listed in the register of members on the record date in the ratio 33:10. This means that the company will allot 33 fully paid-up equity shares with a face value of Re 1 each for every 10 fully paid-up shares with a face value of Rs 10 each held by those shareholders in TCIL.

In other news, Tata Steel attained the prestigious “GreenPro Ecolabel” certification for its automotive flat steel products.