Monday, 1 April 2013

Tata Sons buys stake in Titan Industries for Rs 979 cr from Kalimati Investment

Titan Industries today said one of its promoter firms Tata Sons has acquired an additional 4.37 per cent stake in the company from another promoter entity Kalimati Investment for Rs 979.21 crore. In a filing to the BSE, Titan Industries said Kalimati Investment Company transferred 3,87,80,000 equity shares in the firm to Tata Sons today. The transferred shares represent 4.37 per cent stake in Titan Industries, it added. Tata Sons purchased these shares for Rs 979.21 crore, the filing said. Post this transaction, Tata Sons' holding in the company increased to 15.22 per cent, while that of Kalimati Investment Company went down to 4.37 per cent. Shares of Titan Industries today closed trading 1.91 per cent up at 256.50 apiece on BSE.

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