Tata Steel on Friday said its board-appointed Committee of Directors has approved the sale of its entire 100% stake in Jamshedpur Football and Sporting Private Limited (JFSPL) to Churchill Brothers Sports Club Private Limited for a nominal consideration of Rs 100.
JFSPL is a wholly owned subsidiary of Tata Steel. The proposed transaction involves the transfer of 4.08 crore equity shares, each with a face value of Rs 10, held by Tata Steel in JFSPL.
The stake will be transferred to Churchill Brothers Sports Club Private Limited for the nominal consideration of Rs 100, as approved by the company’s Committee of Directors.