Govt to pick up 9.5% stake in Tata Teleservices subsidiary

The Indian government will pick up an unspecified equity stake in Tata Teleservices (TTL) and a 9.5 per cent stake in Tata Teleservices Maharashtra after the firms opted for the government’s relief measure of converting the interest on AGR (adjusted gross revenues) dues into equity.

Tata Sons, along with its affiliates, holds around 95.17 per cent stake in Tata Teleservices, which in turn holds 75 per cent stake in BSE-listed Tata Teleservices Maharashtra.

The dilution in Tata Sons’ stake in TTL is not known. An email sent to Tata Sons did not elicit a response.

In a statement to the stock exchanges, Tata