New Delhi, Feb 7: Inorganic chemicals and fertilisers manufacturer Tata Chemicals Ltd today said the company plans to sell about 14.51 per cent stake in Tata Investment Corporation Ltd (TICL) to Tata Sons Ltd.
The company holds about 5.2 million share or 15.37 per cent in Tata Investment Corporation Ltd, the company said in a statement. The number of shares proposed to sale is based on the acquisition price per share. However, not less than 4,600,000 shares (13.35% of share capital) or greater than 5,000,000 shares (14.51% of share capital) are proposed to sale, it added.
At the prevailing price on date of proposed sale, such price not being less than Rs 600 per share or greater than Rs 650 per share, the statement said.
The sale will be on February 13 or after.