Tata Consumer Products Ltd.

Tata Global Beverages (TGB) will purchase an additional 1.417 million shares, translating to a 4.17% stake, in Mount Everest Mineral Water (MEMW) for around Rs 28 crore.

TGB’s board had approved the purchase of 14,17,632 equity shares of MEMW from Foresight Holdings and Vinod Sethi, promoters of MEMW. The proposed purchase of shares will be made on or before March 31, 2012, at a price of Rs 198 per share.

At the end of December 2011, Tata Global Beverages held 13,910,653 shares or 40.92% stake in MEMW.

Tata Global Beverages is a global beverage business and the world’s second-largest tea company.