Tata Steel, based on the review of its portfolio, is proposing to sell equity shares of face value of Rs 2 each of Tata Motors to institutional investors over the stock exchange for a value not exceeding Rs 1,250 crore. The price will be discovered through a book building process.
The company also proposes to sell equity shares of face value of Rs 2 each of Tata Motors to Tata Sons around the market price through an off-market transaction for a total value not exceeding Rs 1,250 crore.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
