Tata Steel to sell shares in Tata Motors worth up to $188 mn

The shares are being offered in an indicative range of Rs 324.50-338.05 each

Tata Steel Ltd will sell shares in automaker Tata Motors Ltd worth up to $188 million, according to a term sheet of the deal seen by Reuters on Friday.

The shares are being offered in an indicative range of Rs 324.50 to Rs 338.05 each, with the deal worth up to 12.5 billion rupees, the terms showed.

The lowest price in the range represents a discount of up to 4 percent to their Sept. 16 close of Rs 338.05.

($1 = 66.2168 rupees)