TATA Steel sells shares worth USD 2500 crore in TATA Motors.

Q.  TATA Steel has sold shares worth USD 2500 crore in which group company in September 2015?
- Published on 21 Sep 15

a. TATA Tea
b. TATA Consultancy Services
c. TATA Motors
d. None of the above

ANSWER: TATA Motors
 
TATA Steel has sold shares equalling INR 2500 crore in TATA Motors in 2 separate transactions of INR 1250 crore as per the term sheet of the deal. Largest private sector for steelmaker, TATA group owned 5.54% stake in TATA Motors in June 2015 and sold 1.33% stake in block deal at average price of INR 324.5 per share to raise INR 1250 crore. TATA Steel continues to hold 2.88% in TATA Motors as per the analysis. TATA Steel has a debt of INR 69,000 crore in FY15 and has sold 2.18% of its stake in Titan to TATA Sons for INR 637 crore.

Related Content

➨ Post your comment / Share knowledge


Enter the code shown above:

(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)
▲