Tata Power sells stake in Panatone Finvest to Tata Sons for Rs 15.42 bn

Panatone is a subsidiary of Tata Sons, which is the promoter of Tata Power

Tata Power on Friday said it had sold its stake in Panatone Finvest to Tata Sons for Rs 15.42 billion. The company also entered into an agreement with Panatone for sale of its stake in Tata Communications for Rs 6.13 billion, it said in a statement.
 
"The company has entered into a share purchase agreement with Tata Sons for sale of 590,882,000 equity shares in Panatone Finvest, representing 39.98 per cent in Panatone and has also entered into a share purchase agreement with Panatone for sale of 13,396,200 equity shares in Tata Communications, representing 4.7 per cent in Tata