Tata Sons, the promoter of major Tata group companies, will hike its shareholding in Tata Global Beverages and Tata Chemicals by up to 6.84 per cent and 4.39 per cent respectively for a total estimated value of Rs 1,458 crore.
Tata Sons will acquire up to 4.31 crore shares or 6.84 per cent stake in Tata Global Beverages Ltd (TGBL) from Tata Chemicals as a part of restructuring of its investment portfolio, TGBL said in a regulatory filing.
While, Tata Chemicals said that the acquisition price would not be more than 25 per cent of Rs 609.23 per share. At the indicated price, the transaction is estimated to be around Rs 681.45 crore.
Before proposed acquisition, Tata Sons' holding in the TGBL and Tata Chemicals stood at 22.63 per cent and 19.35 per cent respectively.