Tata Chemicals acquires 9.8 lakh Rallis India

Tata Chemicals acquires 9.8 lakh Rallis India shares at Rs 908.51/sh via pref allotment; hikes stake in Rallis to 50.06% from 45.97%. Tata Chemicals has informed that the company has acquired 9,80,000 equity shares Rs 10 each at a price of Rs 908.51 per share (inclusive of premium of Rs 898.51 per share) of Rallis India on November 09, 2009 through Preferential Allotment. With the said acquisition, the shareholding of the company in Rallis has increased from 45.97 % to 50.06% and Rallis has become subsidiary of the company.

Rallis India touched an intra day high of Rs 927.40 and an intra day low of Rs 893.10 and at 11:21 AM, the share was quoting at Rs 915, up Rs 27, or 3.04%, trading with volumes of 3,942 shares, compared to its 5-day average of 7,944 shares, an decrease of -50.38%.

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