Tatas disclose further pledging of shares

Tata Sons and other group companies have pledged shares of Tata Communications, Tata Chemicals and Tata Tea, valued around Rs 2,418 crore at Tuesday’s closing price.

The parent firm and promoter firm Panatone Finvest have pledged its 10.53 per cent stake, or 30 million shares, of Tata Communications. On Tuesday’s closing price of Rs 442.30, the value of the stake would be Rs 1,326.90 crore. The promoters hold 76.24 per cent stake in the company.

Tata Chemicals disclosed that the promoters such as Tata Sons, Tata Tea and Tata Investment Corporation have pledged 20.02 per cent stake, or 47 million shares, which is valued at Rs 706.75 crore at share price of Rs 150.10. The promoters hold 29.20 per cent stake in Tata Chemicals.

Tata Sons has pledged 11.32 per cent stake, or 7 million shares, of Tata Tea. At the current share price of Rs 550.05, the pledged shares would be worth Rs 385 crore. The promoters hold 35.28 per cent in the company.