The Hindu Business Line : Rallis now Tata Chem subsdiary

Tata Chemicals has invested Rs 89 crore to acquire 9.80 lakh equity shares of Rallis India. The shares were allotted on a preferential basis at Rs 908.51, Rallis India said in a statement to BSE on Tuesday. With the allotment, Tata Chemicals now holds 50.06 per cent of the equity capital of the company. Rallis India has become a subsidiary of Tata Chemicals. Tata Chemicals in August emerged the single largest shareholder with 45.97 per cent holding in Rallis India. It purc hased 35.68 per cent stake from its group companies at an investment of Rs 363.44 crore. The Tata Group decided to consolidate its agriculture business after which the group companies – Tata Tea, Tata Sons, Tata Investment Corporation and Ewart Investments – divested their holding in Rallis India to Tata Chemicals. .Tata Chemicals funded the share buy from its internal accruals. —

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Rallis to make preferential allotment to Tata Chem
Tata Chem to buy out other Rallis India promoters

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