Home / Companies / News /  Tata Sons picks up Tata Chemicals, Tata Motors DVR shares in block deals

Mumbai: Tata Sons Pvt Ltd, promoter of Tata Chemicals bought 2.21 million shares or 0.87% for 64 crore in an open market transaction on Wednesday.

According to the bulk deal data on NSE, Tata Sons acquired 22,10,425 shares of Tata Chemicals for 287.58 apiece totalling to 63.57 crore.

In another transaction, Tata Sons bought 37,63,292 shares in Tata Motors DVR 'A' Ordinary representing 0.74% percent of its total paid-up equity at an average price 56.02 per share aggregating to 29.71 crore.

As on 30 June, Tata Sons held 28.51% and 5.26% in Tata Chemicals and Tata Motors Ltd - DVR respectively. DVR stands for Differential Voting Right. Companies issue DVR shares to prevent any hostile takeover and dilution of voting rights. This also helps strategic investors who are looking at a big investment in a company, but with fewer voting rights. A Tata Motor DVR has 10% voting right as compared to an ordinary Tata Motor share.

Earlier this month, Tata Sons had bought 5.32 million of its DVR 'A' ordinary shares for 30 crore in open market transactions.

Shares of Tata Chemicals gained 4.69% to 292.50, while the benchmark index, Sensex lost 0.17% to 37,668.42 points and Tata Motors - DVR gained 2.81% to 60.40 on Wednesday on BSE.

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