Several Tata Group firms, including TCS, Tata Steel, and Tata Motors, have disclosed that some quantum of their shares pledged by holding entity Tata Sons has been released.
Tata Consultancy Services (TCS) in a regulatory filing said 6,69,71,840 of its shares pledged to Centbank Financial Services by Tata Sons were released upon redemption of debentures.
Tata Sons had pledged 7,96,04,930 shares of TCS aggregating to 2.15 per cent of the total share capital of the company. Following the release, only 1,26,33,090 shares, amounting to 0.34 per cent of the total share capital remain pledged, it added.
In a similar filing, Tata Steel said 75,60,000 of its shares pledged to Centbank by Tata Sons were released. Total 1,39,80,000 shares of the company (1.16 per cent of total share capital) were pledged. After the event, 64,20,000 shares, amounting to 0.53 per cent of the total share capital remain pledged.
Likewise, Tata Motors said 2,36,66,500 of its shares pledged to Centbank by the holding entity have been released. Tata Sons had pledged a total of 5,17,29,000 shares of Tata Motors and after the release, 2,80,62,500 shares remained pledged.
In a separate regulatory filing, Tata Consumer Products Ltd said 48,39,200 of its shares out of 86,72,150 shares pledged to Centbank by Tata Sons was released upon redemption of debentures. After the release, 38,32,950 shares amounting to 0.42 per cent of the company's total share capital remain pledged.
Tata Power Company also informed bourses that 1,77,39,505 shares out of its 3,87,71,375 shares pledged to Centbank have been released upon redemption of debentures.