Rakesh Jhunjhunwala has sold 50 lakh Tata Motors DVR (Differential Voting Rights) shares for over Rs 133 crore through an open market transaction. The ace investor has offloaded 50 lakh shares at an average price of Rs 266.5 apiece, valuing the transaction at Rs 133.25 crore.
A DVR share is like an ordinary equity share, but it provides fewer voting rights to the shareholder.
Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.