A total of over 3 crore pledged shares of Tata Coffee and Tata Chemicals have been released, according to regulatory filings.
These shares were pledged by their promoter group entity Tata Global Beverages Ltd.
In separate filings to the BSE, Tata Coffee and Tata Chemicals said their shares pledged by Tata Global Beverages Ltd have been released today.
Little over 3 crore pledged shares or 16.6 per cent stake of Tata Coffee have been released while in the case of Tata Chemicals the released shares amount to more than 37 lakh. The latter accounts for around 1.46 per cent stake.
In both filings, the name of the acquirer and persons acting in concert with the acquirer has been mentioned as "SBICap Trustee Company Ltd (shares pledged by Tata Global Beverages Ltd)".
Shares of Tata Chemicals and Tata Coffee closed significantly down at Rs 511.25 and Rs 123.65 apiece on the BSE.
Tata group is in focus now following the ouster of Tata Sons chairman Cyrus Mistry on October 24 and being replaced by Ratan Tata as interim chairman.
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