Tata Sons Pvt Ltd promoter of Tata Motors bought 5.32 million of its DVR ‘A’ ordinary shares for ₹30 crore in an open market transaction.
According to the bulk deal data on NSE, Tata Sons acquired 53,02,681 shares in Tata Motors DVR ‘A’ Ordinary representing 1.04% percent of its total paid-up equity at an average price ₹56.02 per share aggregating to ₹29.71 crore.
Latest shareholding data as on 30 June, shows Tata Sons held 5.26% in the Tata Motors Ltd – DVR.
DVR stands for Differential Voting Right. Companies issue DVR shares to prevent any hostile takeover and dilution of voting rights. This also helps strategic investors who are looking at a big investment in a company, but with fewer voting rights. A Tata Motor DVR has 10% voting right as compared to an ordinary Tata Motor share.
Tata Motors reported a consolidated loss of ₹8,443 crore for the April-June quarter in FY21 against a loss of ₹3,679.66 crore in the same period last year. Revenue from operation declined 47.94% YoY to ₹31,983.06 crore during the Q1 of FY21 compared to ₹61,467 in Q1 of FY20.
Shares of Tata Motors – DVR gained 1.54% to ₹56 on Friday on BSE, while the benchmark index, Sensex lost 1.63% to 38,357.18 points.
