TGBL and Tata Chemicals said the proposed date of acquisition is on or after September 18 and the shares are proposed to be acquired at the prevailing price on the date of acquisition.
However, TGBL said that the acquisition price would not be more than 25 per cent of Rs 179.99 per share. At the indicated price, the transaction is estimated to be around Rs 777.10 crore.
Tata Chemicals said that the acquisition price would not be more than 25 per cent of Rs 609.23 per share. At the indicated price, the transaction is estimated to be around Rs 681.45 crore.
Before proposed acquisition, Tata Sons' holding in the TGBL and Tata Chemicals stood at 22.63 per cent and 19.35 per cent respectively.
At 10:55 am, shares in Tata Global Beverages were trading 0.86 per cent higher at Rs 211.05 apiece on the NSE, whose benchmark Nifty index was up 0.49 per cent. Shares in Tata Chemicals up 2.11 per cent at Rs 632.60.