Tata Steel informed that it has increased its stake in Odisha-based Medica TS Hospital Private Limited to 51 per cent from the earlier 26 per cent. Medica TS Hospital Private Limited is a joint venture company between Tata Steel Limited and Medica Hospitals Private Limited. The Company operates and manages a 100-bed multi-speciality hospital established in Kalinganagar, Odisha.
Tata Steel stated in a regulatory filing to the stock exchanges – “This is to inform you that the equity stake of Tata Steel Limited (‘TSL’/’Company’) in Medica TS Hospital Private Limited (‘MTSHPL’) (a joint venture company) has increased from 26 per cent to 51 per cent on January 7, 2022,”
According to the reports the turnover of Medica TS Hospital Private Limited for the year ended March 31, 2021, was Rs 34.98 crore. Tata Steel further stated that MTSHPL is an integral part of the Kalinganagar operations of the Company in Odisha and services the employees and community in the area at large.
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