Home >Companies >News >Tata sons Pvt Ltd buys Tata Motors DVR 'A' Ordinary shares for 30 crore

Mumbai: Tata Sons Pvt Ltd promoter of Tata Motors bought 5.32 million of its DVR 'A' ordinary shares for 30 crore in an open market transactions.

According to the bulk deal data on NSE, Tata Sons acquired 53,02,681 shares in Tata Motors DVR 'A' Ordinary representing 1.04% percent of its total paid-up equity at an average price 56.02 per share aggregating to 29.71 crore.

Latest shareholding data as on 30 June, shows Tata Sons held 5.26% in the Tata Motors Ltd - DVR.

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.

Tata Motors reported a consolidated loss of 8,443 crore for the April-June quarter in FY21 against a loss of 3,679.66 crore in the same period last year. Revenue from operation declined 47.94% YoY to 31,983.06 crore during the Q1 of FY21 compared to 61,467 in Q1 of FY20.

Shares of Tata Motors - DVR gained 1.54% to 56 on Friday on BSE, while the benchmark index, Sensex lost 1.63% to 38,357.18 points.

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