You are here: Home » PTI Stories » National » News
Business Standard

Tata Sons to hike stake in TGBL, Tata Chem for Rs 1,458 cr

Press Trust of India  |  New Delhi 

Tata Sons will hike its holding in Tata Global Beverages and by buying held by the two companies in each other, entailing an estimated investment of Rs 1,458 crore, as part of its efforts to reduce cross-holdings in group firms.

The promoter of major Tata group companies has been on a drive to reduce cross-holdings by different firms of the over USD 100 billion conglomerate under its new Chairman N Chandrasekaran.


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

As on quarter ended June 2017, held 7.10 per cent stake in TGBL.

During the period, Tata Sons had 23.5 per cent stake in TGBL and 19.35 per cent in

In a separate filing, said Tata Sons will acquire up to 1.11 crore or the entire 4.39 per cent stake in the company held by TGBL.

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

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

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

In June this year, Tata Sons had acquired an additional 2.89 per cent stake in for a little over Rs 3,782 crore from through open market transactions.

of TGBL ended the day at Rs 211.95 apiece, up 1.39 per cent from the previous close on BSE. Likewise, closed at Rs 634.05 apiece, up 2.58 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 12 2017. 21:02 IST
RECOMMENDED FOR YOU