Tata Consumer Products Ltd.

Tata Sons, the promoter of major Tata group companies is planning to increase its stake in Tata Global Beverages (TGBL) by up to 6.84 per cent. Tata Sons will buy 4.31 crore shares of the company from Tata Chemicals as a part of restructuring of its investment portfolio. The acquisition price would not be more than 25 per cent of Rs 179.99 per share. At the indicated price, the transaction is estimated to be around Rs 777.10 crore.

The proposed date of acquisition is on or after September 18 and the shares are proposed to be acquired at the prevailing price on the date of acquisition. Before proposed acquisition, Tata Sons' holding in the TGBL stood at 22.63 per cent.

Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.