Mumbai: Nine Tata group companies revealed that they had pledged about 123 crore shares aggregating to Rs10,000 crore as per Wednesday's closing price to meet the group' financial requirements.

The nine Tata companies are Tata Communications, Tata Tea, Tata Chemicals, Tata Motors, Tata Coffee, Tata Steel, Tata Power, Tata Teleservices (Mah) and Indian Hotels.

On 21 January, the Securities and Exchange Board of India had made disclosure of pledged shares mandatory after it was revealed that former Satyam chairman B Ramalinga Raju had pledged almost his entire holding with financiers to fund plans of other family-related firms.

A Tata Sons spokesperson said that the pledging of shares ''is not a new practice; it has been existing since the age of joint stock companies. It has been done primarily for long-term funding requirements of Tata Sons.''

During the market flare up, the Tata Group had undertaken several acquisitions, expanding its clout across the world. These include a 30-per cent stake in US-based Glaceau (Energy Brands) for $677 million, and full acquisitions of Anglo-Dutch steel maker Corus and British luxury brand Jaguar-Land Rover. Tata Tea had acquired US-based Eight'O clock coffee company for $220 million in June 2006.

In a disclosure to the Bombay Stock Exchange Tata Chemicals said three of its promoters have pledged a 20.02-per cent stake in the company with lenders, while Tata Tea said one of its promoters, Tata Sons, had pledged 11.32 per cent stake in the company with lenders, representing 70 lakh shares.

Tata Communications said two of its promoters, Tata Sons and Pantone Finvest, have pledged three crore shares, representing a 10.53 per cent stake in the company. Tata Sons has pledged 2.50 crore shares representing a 3.46-per cent stake in Indian Hotels Company, 13.19 per cent amounting to about half of its total holding, in Tata Steel and 7.68 per cent stake in  Tata Tele (Maharashtra) Ltd., while Tata Power's pledged shares would value about Rs2,515.75 crore.

Tata Investment Corporation has also pledged 0.34 per cent stake of Tata Steel. Tata Teleservices and Tata Power are the other promoter firms, which pledged part of their holdings of TTML.

Tata group has 27 listed companies. Many companies in the group, including TCS, Tata Sponge Iron, Tata Investment Corporation are yet to come out with the promoter share pledging details.