T S Global Holdings (TSGH) Singapore, a 100% indirect subsidiary of Tata Steel Limited today executed definitive agreements with TopTip Holding Pte Ltd. ("TopTip"), a Singapore based steel and iron ore trading company, to divest its 100% equity stake in NatSteel Holdings Pte. Ltd. ("NSH") for an Equity Value of USD 172 million (Rs 1,275 crores).

Based on the historical performance of the transacted business, the Enterprise Value to EBITDA works out to be about 13 times. The wires business of NatSteel in Thailand (Siam Industrial wires) has been retained by Tata Steel as part of the downstream wires portfolio. The transaction has been closed today, the consideration received, and will be used for reduction of off-shore debt.‍

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About NatSteel Holdings

NatSteel Holdings is Singapore's leading Southeast Asian steel producer and one of the top APAC steel providers that specialises in providing premium reinforcement steel products and solutions for Asia's construction industry. NatSteel's environment sustainability initiatives have also garnered prestigious awards and accolades such as The Singapore Compact CSR Award, the Singapore Health Award for Corporate Excellence, and the Worldsteel Safety & Health Recognition. NatSteel aims to create a sustainable future, by emphasising Corporate Social Responsibility (CSR) as a core business principle. As a pioneer and key partner in Singapore's nation-building efforts, NatSteel is devoted to contributing to the overall efficiency of the built environment sector, not only for productivity, but also ensuring the continuity of its circular economy.

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