Tata Consumer Products Ltd.

Life Insurance Corporation (LIC), the country’s largest life insurer has offloaded the shares of Tata Global Beverages for a period of over four months and reduced its stake in the company to a little over 7%. 

The state-run insurer has sold over 1.28 crore shares, representing around 2.08% stake, in the Tata group firm. These scrips were offloaded between August 23, 2012 and December 26, 2012, through open market sale. Prior to the sale, the public sector insurer held 9.71% stake in the company. The shareholding has now come down to 7.63%.

Tata Global Beverages formerly Tata Tea is a multinational non-alcoholic beverages company headquartered in Kolkata, West Bengal, India and a subsidiary of the Tata Group. It is the world's second-largest manufacturer and distributor of tea. Tata Global Beverages markets tea under the major brands Tata Tea, Tetley, Good Earth Teas and JEMCA.