Published On:June 13 2018
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Tata Sons to invest another Rs 3,000 cr into Tata Teleservices
Tata Sons, holding company of the Tata group of companies, will invest another Rs 3,000 crore into unlisted subsidiary Tata Teleservices Ltd via the Compulsory Convertible Preference Shares (CCPS) route. The board of Tata Teleservices, led by Chairman Cyrus Mistry, approved the CCPS issue on rights basis on June 24.
Tata Teleservices, in turn, is expected to invest the funds in BSE-listed Tata Teleservices (Maharashtra) Ltd’s redeemable preference shares worth a similar amount.