 "Illustration: Ajay Mohanty")
Tata Sons will pare the stakes that group companies have in Tata Chemicals and Tata Power, and the holding firm will buy shares in each case and consolidate its ownership.
Besides the unlisted Tata Teleservices, the equity value of the two companies’ listed investments is around Rs 5,500 crore. This sale of investments to parent Tata Sons will help both companies raise funds to repay their debt and finance capital expenditure. Tata Sons had raised Rs 3,300 crore by private placement of debentures, which closed on August 21.
The market value of Tata Sons’ investments in listed companies was Rs 4,53,892 crore
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