Tata Steel stock-split proposal gets 'necessary' approvals: CFO Koushik Chatterjee

Tata Steel has received ''necessary approvals'' for its stock-split proposal, company's Executive Director and Chief Financial Officer Koushik Chatterjee said on Monday.

Tata Steel had earlier said its board would consider a proposal for sub-division of the equity shares of the company having a face value of Rs 10 each.

''I am happy to report that the 1:10 stock split has received the necessary approvals and the Company has set 29th July, 2022 as the record date to give effect to the split,'' Chatterjee said in a statement.

Tata Steel is among the country's top four steel producers and contributes around 18 per to the total domestic steel production.