Tata Investment acquires 95.57% equity stakes of Simto from Voltas for Rs 29.68 crore

Tata Investment Corporation (TICL) has acquired 1462,087 equity shares representing 95.57% of the share capital of Simto Investment Company (Simto), from Voltas for a consideration of Rs 29.68 crore based on a valuation carried out by an external valuer. Accordingly, Simto an unlisted investment Company with a paid-up capital of Rs 1.53 crore has become a subsidiary of TICL.

Tata Investment Corporation (TICL), incorporated in 1937, is non-banking financial company. Formerly known as Investment Corporation of India, the company was established with an objective of providing assistance in promotion of new companies and new entrepreneurs.