Tata Consumer Products to issue shares to consolidate shareholding in overseas subsidiary

A meeting of the Board of Directors of Tata Consumer Products Limited is scheduled to be held on Tuesday, March 29, 2022, to consider the issue of equity shares of the Company by way of preferential allotment, of upto 1.5% of the paid-up share capital of the Company, to a foreign company.

This is for the purposes of consolidation of the Company's shareholding by purchasing the minority stake held by the foreign company in an existing overseas subsidiary, for consideration other than cash, for which issuance and allotment of equity shares shall be in accordance with the applicable laws and shall be subject to such regulatory / statutory approvals, as may be required, including the approval of the shareholders of the Company.

Shares of TATA CONSUMER PRODUCTS LIMITED was last trading in BSE at Rs. 739.35 as compared to the previous close of Rs. 748.25. The total number of shares traded during the day was 55902 in over 2391 trades.

The stock hit an intraday high of Rs. 751.55 and intraday low of 737.15. The net turnover during the day was Rs. 41515226.00.

Source : Equity Bulls

Keywords

TATACONSUMERPRODUCTS INE192A01025 PreferentialAllotment