Tata Communications’ promoters have offloaded 33 lakh shares of the company in last one month. As on March 31, 2013, the promoters holding in the company stood at 76.15%, while institutions and non-institutions held 15.57% and 3.31% stake in the company, respectively.
As per the Securities and Exchange Board of India (SEBI) minimum public shareholding norms, all private sector listed companies need to have at least 25% public shareholding and promoters were asked to lower their stake to 75% or below by June 30, 2013.
Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
