Tata Steel Limited today announced the successful completion of acquiring the entire stake in Medica TS Hospital Private Limited from Manipal Hospitals Eastern India Private Limited. This acquisition, finalized on March 30, 2026, involved purchasing 49% of equity shares and significant Optionally Convertible Redeemable Preference Shares (OCRPS). Following this transaction, Medica TS Hospital is now a wholly owned subsidiary of Tata Steel, at a total consideration of ₹1.49 crore.
Completion of Medica TS Hospital Acquisition
Tata Steel Limited confirms that as of March 30, 2026, it has successfully finalized the acquisition of the entire ownership in Medica TS Hospital Private Limited, formerly known as Medica Hospitals Private Limited. This transaction follows the execution of the Share Purchase Agreement on March 17, 2026.
Transaction Details and Consideration
The aggregate consideration paid by Tata Steel for this full buyout was ₹1.49 crore. The acquisition involved securing two main classes of securities from Manipal Hospitals Eastern India Private Limited:
- Equity Stake: Purchase of 7,40,000 equity shares (face value ₹10/- each), representing a 49% equity stake in Medica TS Hospital.
- Preference Shares: Acquisition of 2,30,05,182 Optionally Convertible Redeemable Preference Shares (OCRPS), which constituted 31.85% of the preference shareholding.
Subsidiary Status Confirmed
Upon the completion of these acquisitions, Tata Steel Limited now holds 100% stake in both the equity shareholding and the OCRPS of Medica TS Hospital. Consequently, Medica TS Hospital has officially become a wholly owned subsidiary of the Company.
Source: BSE
