Tata Sons Ltd has pledged one crore shares in the Group company, Tata Steel on Wednesday. The market value of the shares is around Rs 608 crore on Thursday's closing price on BSE.
In a statement to the stock exchanges, Tata Sons said that it has pledged 3.65 per cent of the total shares it held in Tata Steel. This represents around 1.04 per cent of the total number of outstanding shares of the domestic steelmaker. After the transaction, the number of shares held by Tata Sons in Tata Steel stood at 27.34 crore.