Tata Capital Unlisted Shares
Tata Capital seeks shareholders' nod on related party deals with Tata Steel
Business Standard
2 min read
Tata Capital Seeks Shareholder Nod for Rs 12,000 Crore Transactions with Tata Steel, Focused on Growth and Operational Optimization.
Expert Analysis:
Strategic Shareholder Approval: Tata Capital seeks approval for Rs 12,000 crore related party transactions with Tata Steel.
Significant Share of Turnover: Transactions estimated at 89.83% of annual consolidated turnover for FY 2022-23.
Revenue-Generating Initiatives: Involves factoring receivables and lease facilities, being provided by the company to Tata Steel, aligning with it's growth & revenue generation strategies.
Audit Committee Clearance: Transactions up to Rs 3,510 crore for FY 2023-24 and Rs 12,000 crore for FY 2024-25 were approved by the audit committee.
Emphasis on Governance: Focus on arm's length dealings, ensuring transactions are in the ordinary course of business and aligned with operational goals.
Strategic Financial Moves:
Tata Capital seeks approval for substantial transactions, emphasizing factoring and leasing with Tata Steel.
Operational Alignment:
Revenue generation and operational optimization in focus, aligning with Tata Capital's growth strategy for the next fiscal year.
Arm's Length & Ordinary:
The Committee affirms transactions adhere to arm's length principles and align with the company's ordinary business.
Debt Expansion:
Shareholders sought for approval to raise Rs 20,000 crore through non-convertible debentures.
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