Tata Steel will hold a shareholders' meeting on January 24, 2024. The company will also consider merging its subsidiary Indian Steel and Wire products, the company said in its release on Friday. “The NCLT has directed, inter alia, that a meeting of the Equity Shareholders of the Transferee Company (Tata Steel Limited) be convened and held on Thursday, January 25, 2024 through video-conferencing or other audio-visual means (‘VC/OAVM’) (‘Meeting’) to consider and if thought fit, with or without modification(s), approve the Scheme," the company said in its stock exchange filing on Friday. The meeting will be conducted through video conferencing or other audio-visual medium, as per the directions of the National Company Law Tribunal, at 11 am on January 25. The process of remote e-voting will begin on Sunday, January 21, at 9 am. The e-voting will end on Wednesday, January 24 at 5 pm. The company shares closed 1.91% higher at 133.50 per share on BSE on Friday. Tata Steel merger planTata Steel approved the merger of its subsidiary Indian Steel and Wire Products along with the amalgamation of six more subsidiaries in 2022. The company had approved the amalgamation of , Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining Limited, S & T Mining Company with Tata Steel Limited, according to its stock exchange filing released on 22 September 2022. The approved merger of the subsidiary entities into Tata Steel would help the firm unlock the opportunity for creating shareholder value. The proposed amalgamation would also ensure the use of best practices, cross-functional learnings, and utilizationallow of each other’s facilities in a more efficient manner. The merger would also let the collaboration of the marketing and distribution network of both entities, the company said in its BSE filing. At the beginning of 2023, Tata Steel CEO and Managing Director TV Narendran had said that the proposed merger of a total of seven subsidiary companies with Tata Steel will likely be completed in the current financial year, ie FY 23-24. He also added that the timeline of the merger also depends on the regulatory processes including NCLT clearances. BSE Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!