Trent has signed a definitive agreement with Tata Industries, Tata Unistore (TUL) and Tata Digital (TDPL) dated 8 December 2022 to divest its stake of approximately 3.22% (on a fully diluted basis) held in TUL to TDPL.
The sale of equity shares of TUL to TDPL is a related party transaction. TDPL is a promoter group company.
TUL is engaged in the business of operating an e-commerce business under the brand names 'Tata CLiQ' and 'Tata CLiQ Luxury'.
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