Power utility Tata Power today said one of its promoters, Tata Sons, has revoked over 21.6 million pledged shares of the company.
In a regulatory filing today, Tata Power said that Tata Sons had revoked 2,16,55,000 shares of the firm that were pledged.
The transaction happened on July 18.
According to the filing, Tata Sons now has 52,05,000 pledged shares, accounting for 2.19% of the total outstanding shares of Tata Power.
Tata Sons owns more than 70 million shares of Tata Power.
At the end of June, Tata Sons had 29.81% stake in the power utility.
Shares of Tata Power today gained 1.31% to close at Rs 1,304.85 on the Bombay Stock Exchange.
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