Tata Chemicals’ promoter -- Tata Sons is going to increase the stake in the company to 25.26% by acquiring shares aggregating to 1.08% stake from other group firms. At present, Tata Sons holds 24.18% stake in Tata Chemicals.
As part of restructuring of investment portfolio, Tata Sons will acquire 7,05,522 shares from Tata Consumer Products (formerly Tata Global Beverages) and 1.6 lakh shares from Tata Coffee. Similarly, Tata Sons will also acquire 13,69,290 shares of Tata Chemicals from Ewart Investments and 5.18 lakh shares from Simto Investments Co. The total shares to be acquired amounts to 1.08% of voting rights of Tata Chemicals.
Tata Chemicals is the second-largest producer of soda ash in the world with manufacturing facilities in India, UK, Kenya and USA. It is India’s leading crop nutrients player and a leading player in crop protection business through its subsidiary Rallis India.