Tata Engineering has acquired an additional 5.91 per cent stake in its Singapore-based precision tools manufacturing joint venture, Tata Precision Industries (TPI), for Rs 1.3 crore.
The company has bought the shares from its joint venture partner Development Bank of Singapore.
Its total holding in TPI now stands at 49.99 per cent, it informed the BSE. As on March 31 2002, Tata Engineering held 44.6 lakh shares in TPI with a face value of one Singapore dollar per share, worth Rs 1.83 crore as per the company
