Mumbai, Sep 18 (UNI) The open offer of Tata Group promoter company Tata Son's Limited for acquiring 28.39 per cent stake in Tata Investment Corporation Limited (TICL) will open on November 7.
Through the offer, Tata Sons plans to buy upto 97.83 lakh shares, which constitutes nearly 28.39 per cent of the voting capital of TICL, said the company in a communique to bourses today.
TICL shareholders presently holds nearly 1.3 crore shares which constitutes 39.39 per cent of the equity shares of TICL.
JM Financial Consultants Private Limited has been fixed as the manager to the offer.
The offer, which will be made at Rs 600 per share, will close on November 26.