Several Tata Group companies, including TCS, Tata Steel, and Tata Motors, have announced the release of some of their shares pledged by holding company Tata Sons.
Tata Consultancy Services (TCS) said in a regulatory filing that Tata Sons issued 6,69,71,840 of its shares pledged to Centbank Financial Services upon debenture redemption.
Tata Sons had pledged 7,96,04,930 TCS shares, amounting to 2.15 per cent of the company’s total share capital. Just 1,26,33,090 shares, or 0.34 per cent of the total share capital, remain pledged following the announcement, according to the company.
Tata Steel said 75,60,000 of its shares pledged to Centbank by Tata Sons had been issued in a similar filing. A total of 1,39,80,000 shares (1.16 per cent of the company’s total share capital) were pledged. Following the case, 64,20,000 shares, or 0.53 per cent of the company’s total share capital, remain pledged.
Similarly, Tata Motors reported that the holding company had issued 2,36,66,500 of its shares pledged to Centbank. Tata Sons had pledged a total of 5,17,29,000 Tata Motors shares, with 2,80,62,500 remaining after the release.
Tata Consumer Products Ltd said in a separate regulatory filing that the redemption of debentures issued 48,39,200 of its shares out of 86,72,150 pledged to Centbank by Tata Sons. Following the announcement, 38,32,950 shares, or 0.42 per cent of the company’s total share capital, remain pledged.
Tata Power Company also told stock exchanges that 1,77,39,505 shares out of its total of 3,87,71,375 shares had been sold.