Tata Sons to make open offer to TICL shareholders
15 Sep 2007
Mumbai:
Tata Sons Ltd, the holding company of all key companies
of the group, will make an open offer to the shareholders
of Tata Investment Corporation Ltd (TICL) to increase
its stake ahead of delisting the company from bourses.
The offer would be made at a price of Rs600 per share - a premium of 33.33 per cent over the latest closing price of TICL''s share of Rs450 on the BSE.
Tata Sons alone would make the offer to acquire additional equity shares representing up to 29.29 per cent from public shareholders, who currently hold 39.39 per cent, the company said in a filing with the Bonmbay Stock Exchange.
Tata
Sons and other Tata companies currently hold 60.61 per
cent of TICL''s equity capital.