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Tata Sons to Raise Stake in Tata Global Beverages and Tata Chemicals

Indian Business Giant Tata Sons will push up its holding in Tata Global Beverages and Tata Chemicals by up to 6.84 per cent and 4.39 per cent respectively. The total value is estimated to be around Rs 1,458 crore.

In an administrative recording, Tata Global Beverages Ltd has uncovered that the Tata Group promoter Tata Sons is set to purchase out near 4.31 crore shares (6.84 for every penny stake) in Tata Global Beverages Ltd (TGBL) from Tata Chemicals as a piece of rebuilding of its investment portfolio.

In the mean time, Tata Chemicals has said in its recording that Tata Sons will get near 1.11 crore shares (4.39 for each penny stake) in the organization from TGBL. Both the Tata firms have said that the proposed obtaining will occur on or after September 18. The acquisition of shares will be as per the prevailing price on the date of buy as per the reports.

A related report quoted Tata Global Beverages as saying that the acquisition price would not be more than 25 per cent of Rs 179.99 per share. That would mean, the transaction could be close to Rs 777.10 crore. In the meantime, Tata Chemicals has said the acquisition price would not be more than 25 per cent of Rs 609.23 per share. That makes the acquisition price around Rs 681.45 crore.

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