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Block Deal: 2.55 Cr Tata Motors shares change hands at Rs 750/sh; Daimler AG sells 5.34% stake in Tata Motors

In a block deal, 2.55 crore Tata Motors shares changed hands  at Rs 750 per share. Daimler AG sells 5.34% stake in Tata  Motors, and thus raises Rs 1912.5 crore.Yesterday, sources said that Daimler Chrysler AG is going to sell 5.34% stake in Tata Motors. Book for Tata Motors block deal opened today. Daimler will sell up to 2.55 crore shares, which is 5.3% equity. The issue price of block deal is at Rs  737.42-761.30/sh. Daimler will get between Rs 1886-1948 crore  via stake sale. Citi is the sole banker to Tata Motors block deal.

 
  3/9/2010 10:28:00 AM
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