Tata Steel to sell Jamshedpur Football and Sporting to Churchill club for Rs 100

Jamshedpur FC (Pic: ISL)

Tata Steel on Friday said the company will sell its entire stake in Jamshedpur Football and Sporting Private Limited to Churchill Brothers Sports Club for a nominal amount of Rs 100.

Jamshedpur Football and Sporting Private Limited (JFSPL) is a wholly-owned subsidiary of the steel major.

In a filing, Tata Steel said its Committee of Directors -- set up by the company''s board -- has approved the transfer of the entire 100 per cent equity stake comprising 4.08 crore equity shares of face value Rs 10/- each held by Tata Steel Limited in JFSPL to Churchill Brothers Sports Club Private Limited (Churchill) at a nominal consideration of Rs 100.

Following the approval of the Committee of Directors, Tata Steel Limited and Churchill have entered into a share purchase agreement setting out the terms and conditions governing the proposed transfer of Tata Steel''s entire shareholding (100) in JFSPL to Churchill.

Turnover of Jamshedpur Football and Sporting Private Limited in FY26 was Rs 32.23 crore.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.