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Tata Sons, the promoter of major operating companies of the Tata group, will acquire 2.18 per cent stake in Titan Company at an estimated price of over Rs 680 crore taking its total holding to 19.59 %, as per a PTI report.
Tata Sons, the promoter of major operating companies of the Tata group, will acquire 2.18 per cent stake in Titan Company at an estimated price of over Rs 680 crore taking its total holding to 19.59 %, as per a PTI report.
Tata Sons will acquire 2.18 per cent stake from Tata Steel as a part of restructuring of its investment portfolio, Titan said in a BSE filing. Titan said the proposed date of acquisition is on or after August 11 and the shares are proposed to be acquired at the prevailing price on the date of acquisition.
At the indicated price, the transaction is estimated to be around Rs 682.64 crore. Before proposed acquisition, Tata Sons' holding in the company was at 17.40 per cent.
