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Tata Sons to raise stake in TGBL, Tata Chemicals for Rs 1,458 cr

TGBL and Tata Chemicals said the proposed date of acquisition is on or after September 18

Press Trust of India  |  New Delhi 

N Chandrasekaran
Tata Group chairman N Chandrasekaran

Tata Sons, the promoter of major companies, will hike its shareholding in Tata Global Beverages and by up to 6.84 per cent and 4.39 per cent respectively for a total estimated value of Rs 1,458 crore.

will acquire up to 4.31 crore or 6.84 per cent stake in Tata Global Beverages Ltd (TGBL) from as a part of restructuring of its investment portfolio, said in a regulatory filing.


said will acquire up to 1.11 crore or 4.39 per cent stake in the company from Tata Global Beverages Ltd (TGBL).

and said the proposed date of is on or after September 18 and the are proposed to be acquired at the prevailing price on the date of

However, said that the price would not be more than 25 per cent of Rs 179.99 per share. At the indicated price, the is estimated to be around Rs 777.10 crore.

While, said that the price would not be more than 25 per cent of Rs 609.23 per share. At the indicated price, the is estimated to be around Rs 681.45 crore.

Before proposed acquisition, Tata Sons' holding in the and stood at 22.63 per cent and 19.35 per cent respectively.

of Bank were trading 1.15 per cent higher at Rs 211.45 on of were trading 1.28 per cent higher at Rs 626 apiece on

First Published: Tue, September 12 2017. 10:58 IST
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