Titan Industries, on Thursday, said one of its promoter firms, Tata Sons, had 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 3.88 crore equity shares in the firm to Tata Sons. 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 closed 1.91 per cent up at Rs.256.50 on BSE. — PTI