Tata Chemicals to raise Rs 325cr

Tata Chemicals is planning to sell a part of its stake in Tata Investment Corporation to group holding company Tata Sons for up to Rs 325 crore.

According to a release issued by Tata Chemicals to the BSE today, the company is planning to sell up to 14.51% stake at a price not greater than Rs 650 and not less than Rs 600 per share on or after February 13.

Tata Chemicals holds 15.37% stake (52.97 lakh shares) in Tata Investment Corporation.

"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 for sale," the release added.