<?xml version="1.0" encoding="UTF-8" standalone="no"?><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2022-12-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2022-12-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2022-12-31/in-capmkt-roles" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef xlink:href="in-capmkt-ent-2022-12-31.xsd" xlink:type="simple"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ISIN">500470</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-09</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ISIN">500470</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-09</xbrli:startDate><xbrli:endDate>2026-04-09</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:NameOfTheCompany contextRef="OneI">Tata Steel Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">TATASTEEL</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneI">2026-04-09</in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2025-11-12</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2025-12-31</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2026-04-09</in-capmkt:DateOfReport><in-capmkt:BriefDetailsOfInitialAnnouncement contextRef="OneI">Acquisition of equity stake in Tata Steel Colors Private Limited (Formerly Tata BlueScope Steel Private Limited)</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Transaction Completed</in-capmkt:ReasonForUpdate><in-capmkt:TransactionCompleted contextRef="OneI">This is further to our disclosures dated December 31, 2025 and November 12, 2025 on the abovementioned subject.
This is to inform you that, Tata Steel Limited (‘Company’) has today i.e. on April 9, 2026, completed the acquisition of remaining 10,000 equity shares (0.01% shareholding) of face value Rs. 10/- each for a consideration of Rs. 0.03 crore in Tata Steel Colors Private Limited (Formerly Tata BlueScope Steel Private Limited) (‘TSCPL’), subsidiary company, from BlueScope Steel Asia Holdings Pty Ltd as per the terms and conditions of the Share Purchase Agreement executed on November 12, 2025. Post this transaction, the Company’s shareholding in TSCPL has increased from 99.99% to 100% and accordingly, TSCPL has become an indirect wholly owned subsidiary of the Company.
This disclosure is being made in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.</in-capmkt:TransactionCompleted><in-capmkt:AmountOfTransactionCompleted contextRef="OneD" decimals="0" unitRef="INR">0</in-capmkt:AmountOfTransactionCompleted><in-capmkt:DateOfTransactionCompleted contextRef="OneI">2026-04-09</in-capmkt:DateOfTransactionCompleted><in-capmkt:PercentageOfTransactionCompleted contextRef="OneI" decimals="INF" unitRef="pure">1</in-capmkt:PercentageOfTransactionCompleted></xbrli:xbrl>