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Titan Industries today said one of its promoter firms Tata Sons has acquired an additional 4.37% stake in the company from another promoter entity Kalimati Investment for Rs 979.21 crore.
In a filing to the BSE, Titan Industries said Kalimati Investment Company transferred 3,87,80,000 equity shares in the firm to Tata Sons today.
The transferred shares represent 4.37% stake in Titan Industries, it added.
Tata Sons purchased these shares for Rs 979.21 crore, the filing said.
Post this transaction, Tata Sons' holding in the company increased to 15.22%, while that of Kalimati Investment Company went down to 4.37%.
Shares of Titan Industries today closed trading 1.91% up at 256.50 a piece on BSE.
