Daimler exits Tata Motors

The shares were sold to various groups of investors, including Tata Sons and Citi Group through the capital market.

“Tata Motors’ share price has risen significantly especially last year, so Daimler will receive a substantial cash inflow of approximately €300 million from the sale of its shares,” Daimler said.

However, according to information available on Bombay Stock Exchange (BSE), Daimler sold 2.56 crore shares of Tata Motors at a price of Rs 751.67 a piece fetching Rs 1,924.01 crore. The transaction will have a positive effect on Daimler’s pre tax earnings at about €265 million (about Rs 1,638.89 crore).