Tata Sons hikes stake in Titan to 15.22% for Rs 979.21 cr
New Delhi: Titan Industries Thursday said one of its promoter firms Tata Sons has acquired an additional 4.37 percent stake in the company from another promoter entity Kalimati Investment for Rs 979.21 crore.
In a filing to the BSE, Titan Industries said Kalimati Investment Company transferred 3,87,80,000 equity shares in the firm to Tata Sons Thursday.
The transferred shares represent 4.37 percent stake in Titan Industries, it added.
Tata Sons purchased these shares for Rs 979.21 crore, the filing said.
Post this transaction, Tata Sons' holding in the company increased to 15.22 percent, while that of Kalimati Investment Company went down to 4.37 percent.
Shares of Titan Industries Thursday closed trading 1.91 percent up at 256.50 apiece on BSE.