Titan Industries said on Thursday that one of its promoter firms Tata Sons has acquired an additional 4.37 per cent stake in the company from another promoter entity Kalimati Investment for Rs 979.21 crore.
Kalimati Investment Company transferred 3,87,80,000 equity shares in the firm to Tata Sons, Titan Industries said in a filing to the BSE.
The transferred shares represent 4.37 per cent stake in Titan Industries, the filing said. Tata Sons purchased these shares for Rs 979.21 crore, it added.
Post this transaction, Tata Sons' holding in the company has increased to 15.22 per cent, while that of Kalimati Investment Company has come down to 4.37 per cent.
Shares in Titan Industries closed at 256.50 apiece on the BSE, up 1.91 per cent from the previous close.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
