The Government is planning to sell its entire stake in Tata Communications through an offer for sale (OFS) and the rest to Tata Son's investment arm Panatone Finvest. Currently, the government holds 26.12 per cent stake in Tata Communications, Panatone Finvest 34.8 per cent and Tata Sons 14.07 per cent, respectively.
As an initial step, the government will sell up to 4,59,46,885 equity shares forming 16.12 per cent equity shareholding of the company through an offer-for-sale through the stock exchange mechanism. Immediately after the OFS, the government shall sell the remaining equity shares held by it in the company to Panatone.
Tata Communications along with its subsidiaries is a leading global provider of A New World of Communications.
