Tata Steel : Statement of deviation(s) or variation(s) under Reg. 32

	February 4, 2022
The Secretary, Listing Department	The Manager, Listing Department
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, 5th Floor, Plot No. C/1,
Dalal Street,	G Block, Bandra-Kurla Complex, Bandra (E)
Mumbai - 400 001.	Mumbai - 400 051.
Maharashtra, India.	Maharashtra, India.
Scrip Code: 500470/890144*	Symbol: TATASTEEL/TATASTLPP*
Dear Madam, Sirs,

Sub: Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutional Placement (QIP) etc.

Please find enclosed herewith a statement indicating no deviation or variation in utilization of proceeds received in the form of first and final call money from conversion of partly paid-up equity shares of Tata Steel Limited (the 'Company') of face value ₹10/- each (₹2.504 paid-up) into fully paid-up equity shares of the Company of face value ₹10/- each, on which the first and final call money of ₹461/- per share (comprising face value of ₹7.496 per share and securities premium of ₹453.504 per share) has been received aggregating to ₹40.23 crore during the quarter ended December 31, 2021. The said conversion is in terms of the Letter of Offer dated January 22, 2018 pertaining to Company's Rights Issue 2018.

This disclosure is being made in terms of the SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019 read with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This is for your information and records.

Thanking you.

Yours faithfully,

Tata Steel Limited

Parvatheesam Kanchinadham

Company Secretary &

Chief Legal Officer (Corporate & Compliance)

Encl: As above

*Securities in scrip code 890144 and symbol TATASTLPP stand suspended from trading effective February 17, 2021

Registered Office Bombay House 24 Homi Mody Street Fort Mumbai 400 001 India

Tel [phone] Fax [phone] Website www.tatasteel.com

Corporate Identity Number L27100MH1907PLC000260

Annexure

Statement of Deviation or Variation in utilization of funds raised

Name of listed entity

Tata Steel Limited

Public Issues/ Rights Issue / Preferential Issue / QIP / Others

Mode of Fund Raising(First and Final Call on partly paid-up equity shares issued in terms of Letter of Offer dated January 22, 2018)

Date of Raising Funds	October 30, 2021 and December 27, 2021
Amount Raised	₹40.23 crore
Report filed for quarter ended	December 31, 2021
Monitoring Agency	Applicable
Monitoring Agency Name	HDFC Bank Limited
Is there a Deviation / Variation in use of	No
funds raised
If yes, whether the same is pursuant to
change in terms of a contract or objects,
which was approved by the shareholders	Not Applicable
If yes, date of shareholder approval
Explanation for the Deviation / Variation
Comments of the audit committee after	This 'Nil' Statement as on December 31, 2021 was placed before
review			the Audit Committee at its meeting held on February 3, 2022.
Comments of the auditors, if any	None
Objects for which funds have been raised
and where there has been a deviation, in	NA
the following table
		Original	Modified	Funds	Amount of	Remarks
Original	Modified			Deviation/Variation
	allocation,		if
Object	Object, if any	Allocation	if any	Utilised	for the quarter	any
					according to
					applicable object
			NA

Deviation or Variation could mean:

1. Deviation in the objects or purposes for which the funds have been raised
2. Deviation in the amount of funds actually utilized as against what was originally disclosed or
3. Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc

Name of Signatory - Parvatheesam Kanchinadham

Designation - Company Secretary &

Chief Legal Officer (Corporate & Compliance)

Date: February 3, 2022

Place: Mumbai

Registered Office Bombay House 24 Homi Mody Street Fort Mumbai 400 001 India

Tel [phone] Fax [phone] Website www.tatasteel.com

Corporate Identity Number L27100MH1907PLC000260