Tata Chemicals buys 9.7 mn shares of subsidiary Rallis India for Rs 208 cr
New Delhi: Tata Chemicals on Tuesday said it has acquired 97 lakh shares of its subsidiary Rallis India for Rs 208 crore through a block deal, increasing its stake by 5 per cent to 55.04 per cent.
In a regulatory filing, Tata Chemicals said the company acquired 97 lakh equity shares of Rallis India, with face value of Re 1 each, at Rs 215.05 per equity share. This represented 4.99 per cent of the paid-up share capital of Rallis.
Agri inputs firm Rallis is into manufacturing, distribution, sales and marketing of crop protection and crop nutrition products, and a variety of field crop and seeds.
Recently, Rallis reported a marginal fall in net profit at Rs 63 crore for June quarter as against Rs 67 crore in the year-ago period.
Total income fell to Rs 765 crore in April-June of this financial year from Rs 867 crore in the corresponding period of the previous year.
