Tata Steel Ltd. has announced the Composite Scheme of Amalgamation between Tata Steel BSL and Tata Steel Ltd. and has set 16th November 2021 as the record date for the purpose of determining the shareholders of Tata Steel BSL Ltd. who will be entitled to receive equity shares of Tata Steel Ltd. in the share exchange ratio as per the Scheme of Amalgamation.
As a result of this, shares of Tata Steel BSL will be suspended from trading on exchanges from 15th November 2021 onwards and will not reflect in your holdings on Kite. You can refer to this exchange circular for more information.
As per the scheme of amalgamation, the shareholders of Tata Steel BSL will receive 1 fully paid-up equity share of Tata Steel for every 15 shares held in Tata Steel BSL. Any fractional shares will be cash-settled by the company. The amalgamated shares of Tata Steel will be visible in your holdings once credited and listed on the exchanges.