Mumbai: Tata Motors said on Friday its group chairman Ratan Tata has purchased one lakh shares in the company for over Rs1.36 crore.
In a disclosure to the Bombay Stock Exchange (BSE), Tata Motors said Ratan Tata has bought one lakh ordinary shares at Rs136.48 a piece, aggregating over Rs1.36 crore through market purchase on 11 February.
Post acquisition, Ratan Tata now holds 1.87 lakh ordinary shares and 21,836 ‘A´ ordinary shares representing 0.04% stake in Tata Motors.
The ‘A´ ordinary shares would have differential rights as to voting and dividend. An ‘A´ ordinary shareholder would be entitled to one vote for every 10 shares held in the company.
Further, the shareholder would be entitled to receive dividend at 5% more than the rate of dividend declared on the ordinary shares.