Rakesh Jhujhunwala ups stake in Tata Motors DVR
Published On: Thursday, October 21, 2021 | By: Team KnowMyStock
Ace investor Rakesh Jhujhunwala has bought an additional 10 million equity shares in Tata Motors DVR in July-September (Q2FY22), increasing his stake in the Tata Group company to 3.93 percent in Q2 from 1.97 percent at the end of June quarter (Q1), according to the shareholding pattern filed by the company. As per the data, Rakesh Radheshyam Jhunjhunwala held a 2.70 percent stake or 13.75 million equity shares in Tata Motors DVR in Q2, as against a 1.97 percent stake (10 million shares) in the previous quarter. The ace investor has purchased a 1.23 percent stake or 6.25 million shares in name of Rakesh Jhujhunwala during the quarter, against nil or below 1 percent holding in the previous quarter, data shows. CLICK HERE FOR DETAILS Differential Voting Rights (DVR) shares are shares that are permitted to be issued with differential voting and differential dividend rights.
Tata Motors will raise Rs 7,500 crore ($1 billion) in its passenger electric vehicle (EV) business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors and TPG Rise Climate entered into a binding agreement whereby TPG Rise Climate along with its co-investor ADQ, shall invest in a subsidiary of Tata Motors that will be newly incorporated. It is expected that the first round of capital infusion will be completed by March 22 and the entire funds will be infused by end of 2022.The new company shall leverage all existing investments and capabilities of Tata Motors and will channelise the future investments into EV, dedicated BEV platforms, advanced automotive technologies and catalyse investments in charging infrastructure and battery technologies, the company said.
S&P upgraded the rating for Tata Motors and its 100 per cent subsidiary TML Holdings from “B” to “BB-“ with a stable outlook. JLR’s rating has been revised from “B” to “B+”. The outlook is stable.
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