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.
