Tata Sons picks up 2.89% stake in Tata Motors for Rs 3,782 cr

Tata Sons today acquired an additional 2.89 per cent stake in group's auto venture Tata Motors for a little over Rs 3,782 crore through open market transactions.
The shares were purchased from Tata Steel.
According to bulk deal data available with the stock exchange, Tata Sons has purchased a total of 8,3,537,697 shares, amounting to 2.89 per cent stake, of Tata Motors.
The shares were bought at an average price of Rs 452.80 apiece, valuing the transaction at Rs 3,782.59 crore.
As of end-March, Tata Steel held a 2.9 per cent stake or about 8.36 crore shares in Tata Motors, while the group's holding firm Tata Sons owned 28.71 per cent stake in the auto major.

Last week, Tata Steel had said it would sell the stake to Tata Sons on or after June 23.
Tata Sons, which has been trying to consolidate its stake in group companies for quite sometime, had bought 1.73 per cent in Tata Motors for Rs 2,430 crore in December.
Shares of Tata Motors today fell by 2.14 per cent to settle at Rs 443.10 apiece on the BSE. During the intra-day trade, the stock had touched a low of Rs 442.40.