By: ICN Bureau
Last updated : July 19, 2023 9:30 am
The aforesaid acquisition has resulted in increase in shareholding of the company in Rallis to 55.04%
Tata Chemicals Limited has acquired 97,00,000 equity shares having face value of Rs. 1 each of Rallis India Limited, a listed subsidiary of the company, at Rs. 215.05 per equity share representing 4.99% of the paid-up share capital of Rallis by way of a block deal on July 18, 2023.
The aforesaid acquisition has resulted in increase in shareholding of the company in Rallis to 55.04%.
Rallis India net profit was down marginally at Rs. 63 crore in the June quarter against Rs. 67 crore logged in the same period last year. The company recorded a lower revenue of Rs. 782 crore for the quarter ended against Rs. 863 crore over previous year. During the quarter, Rallis India repaid ₹25 crore of working capital loan.
Rallis has presence in India and global presence in North America, South America, Europe, Middle East & Africa and Asia Pacific giving access to 61 countries.