Tata Motors Passenger Vehicles Ltd.

Royal Bank of Scotland Asia Merchant Bank (Singapore) has sold 63,40,959 shares of Tata Motors with differential voting rights (DVR) for an aggregate of over Rs 96 crore via open market transactions. The company has sold the same to Merrill Lynch Capital Markets Espana SA SV on an average price of Rs 151.85.

A DVR share is like an ordinary equity share, but it provides fewer voting rights to the shareholder. At the end of December quarter, RBS held 64.88 lakh shares of Tata Motors' DVR or 1.35% stake in the company.