BackTata Sons cancels Teleservices OFS
Holding firm on 15 May told BSE it intended to sell 2.72% Tata Teleservices stake in accordance with norms
Premium(The promoters of TTML currently hold a 77.72% stake in the company while 22.28% is held by public.)
Mumbai: Tata Sons Ltd told BSE on Friday that it has decided to cancel its offer for sale (OFS) of shares in Tata Teleservices (Maharashtra) Ltd.
On 15 May, the holding company had informed the exchange that it intended to sell a 2.72% Tata Teleservices stake in accordance with norms that require all listed private sector companies to have at least a 25% public shareholding by 30 June.
The promoters of TTML currently hold a 77.72% stake in the company while 22.28% is held by public. On Friday, TTML shares closed at ₹ 8.10, down 8.6% on BSE. The benchmark Sensex was up 0.19% at 20,286.12 points.
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