Tata Sons has disclosed that it has pledged its 100 per cent holding in its group firm Tata Coffee to raise resources. The company in a statement today has said that it had pledged its entire 57.48 per cent totalling 107,35,982 shares of the total outstanding shares of 186,77,037 shares.
Tata Coffee on Tuesday opened at Rs 150.05 per share on the National Stock Exchange and after nearly half hour of morning trade has gained and is currently trading at Rs 152.40 per share.
Tata Coffee is primarily into coffee exports and also has small presence in the Indian coffee market. The company reported a topline of close to Rs 1,000 crore for last fiscal and a net profit of Rs 23 crore.