Tata Chemicals has acquired 97 lakh shares of Rallis India at Rs. 215.05 per share, for a total of Rs. 208 crore. With this acquisition, Tata Chemicals’ stake in Rallis India has increased to 55.04%. Rallis India is a company that is involved in the production, distribution, sale, and marketing of crop protection and nutrient products, as well as seeds.
Details of the Share Acquisition
The acquisition of 97 lakh shares of Rallis India by Tata Chemicals was done through a bulk deal on Tuesday, according to information provided by the company to the stock exchanges. The shares were acquired at a price of Rs. 215.05 per share, which is a premium of around 5% on the current market price of the shares.
Increased Stake in Rallis India
As a result of this share acquisition, Tata Chemicals’ stake in Rallis India has increased to 55.04%. Prior to this acquisition, Tata Chemicals held a 50.99% stake in Rallis India. Tata Chemicals’ increased stake in Rallis India is expected to strengthen the company’s position in the crop protection and nutrient products market.
Rallis India’s Financial Performance
Rallis India recently announced its financial results for the April-June quarter, reporting a net profit of Rs. 63 crore, which was a slight decline from the previous year. The company’s total income for the quarter was Rs. 765 crore. Rallis India is a subsidiary of Tata Chemicals, and the recent share acquisition by Tata Chemicals is expected to further strengthen the partnership between the two companies.
Table of Important Information:
| Company Name | Tata Chemicals |
|---|---|
| Shares Acquired | 97 lakh shares of Rallis India |
| Acquisition Price | Rs. 215.05 per share |
| Total Cost of Acquisition | Rs. 208 crore |
| Stake in Rallis India | 55.04% |
| Rallis India’s Business | Production, distribution, sale, and marketing of crop protection and nutrient products, as well as seeds |
| Rallis India’s Recent Financial Results | Net profit of Rs. 63 crore for April-June quarter, total income of Rs. 765 crore |
| Relationship between Tata Chemicals and Rallis India | Rallis India is a subsidiary of Tata Chemicals |
