The Board of Tata Steel on 22 November 2023 has approved the allotment of 7,58,00,309 fully paid-up equity shares of the Company of face value Rs 1/- each, to eligible shareholders of Tata Steel Long Products (TSLP) as on the record date i.e. 17 November 2023 (Record Date), in the share exchange ratio of 67:10 i.e., 67 fully paid-up equity shares of the Company of face value Rs 1/- each to be allotted for every 10 fully paid-up equity shares of TSLP of face value Rs 10/- each, in terms of the Scheme of Amalgamation as approved and sanctioned by the Hon'ble National Company Law Tribunal (‘Hon'ble NCLT'), Mumbai Bench vide order dated 20 October 2023 and the Hon'ble NCLT, Cuttack Bench vide order dated 18 October 2023.