Tata Chemicals Acquires Additional 4.99% Shares In Rallis For ₹208.60 Cr Through A Block Deal

Tata Chemicals Acquires Additional 4.99% Shares In Rallis For ₹208.60 Cr Through A Block Deal

Tata Chemicals post this acquisition holds 55.04 per cent stake in Rallis.

FPJ Web DeskUpdated: Tuesday, July 18, 2023, 10:04 AM IST
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Tata Chemicals Acquires Additional 4.99% Shares In Rallis For ₹208.60 Cr Through A Block Deal | Wikipedia

Tata Chemicals on Tuesday acquired additional 4.99 per cent shares for ₹208.60 crore, the company announced through an exchange filing. Tata Chemicals post this acquisition holds 55.04 per cent stake in Rallis.

The company bought 97,00,000 shares of its subsidiary at a price of ₹215.05 per share through a block deal.

Rallis India Limited is into manufacturing, distribution, sales and marketing of crop protection and crop nutrition products and a variety of field crop and seeds. As on March 31, 2023, the turnover of Rallis is ₹ 2,967 crore. Rallis has presence in India and global presence in North America, South America, Europe, Middle East & Africa and Asia Pacific giving access to 61 countries.

Tata Chemicals shares

The shares of Tata Chemicals on Tuesday morning at 10:00 am IST were trading at Rs 999.05, up by 54 per cent.

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