Tata Chemicals hikes stake in Rallis India to 45.2%

Tata Group firm Tata Chemicals has become the single largest stakeholder in Rallis India by hiking its stake in the company to 45.20 per cent through acquisition of shares from various promoters for around Rs 363.44 crore.

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Tata Chemicals to buy out other Rallis India promoters

Tata Chemicals has purchased 42,75,869 shares representing 35.68 per cent stake in Rallis India at Rs 850 a piece, totaling to Rs 363.44 crore by way of inter-se transfer among promoters, Tata Chemicals said in a filing to the Bombay Stock Exchange.

Tata Chemicals has purchased 29,38,713 shares of Rallis India from Tata Tea, 9,00,750 shares from Tata Sons, 2,79,436 shares from Tata Investments Corporation and 1,56,970 shares from Ewart Investments.

As of June 30, total promoter holding in Rallis India stood at 45.20 per cent, of which 9.40 per cent stake was held by Tata Chemicals, according to shareholding pattern available on the stock exchanges.

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The rest 35.80 per cent stake in Rallis India is being held by other Tata group firms like Tata Tea (24.52 per cent), Tata Sons (7.52 per cent), Tata Investment Corp (2.42 per cent) and Ewart Investments (1.35 per cent), which Tata Chemicals has acquired.