Tata Chemicals on Tuesday said it has acquired 97 lakh shares in its subsidiary Rallis India for Rs 208 crore through a block deal, increasing its stake by 5 percent to 55.04 percent. In a regulatory filing, Tata Chemicals said the company has acquired 97lakh equity shares of Rallis India, with a face value of Re 1 each, at Rs 215.05 per equity share. This represented 4.99 percent of the paid-up share capital of Rallis.
Agri inputs firm Rallis is dedicated to the manufacture, distribution, sale, and marketing of crop protection and crop nutrition products, and a variety of crops and seeds.
Recently, Rallis reported a marginal fall in net profit of Rs. 63 crore for the June quarter as compared to Rs. 67 crore in the year-ago period.
Total income fell to Rs.765 crore in April-June this financial year from Rs.867 crore in the corresponding period of the previous year.
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