Mumbai: Tata Investment Corporation Ltd (TICL) has acquired 95.57 percent of the share capital of Simto Investment from Voltas Limited for Rs 29.68 crore.
"Tata Investment Corporation Ltd (TICL) has acquired from Voltas Ltd 14,62,087 equity shares of Rs 10 each representing 95.57 percent of the share capital of Simto Investment (Simto) for a consideration of Rs 29.68 crore based on a valuation carried out by an external valuer," TICL said in a BSE filing.
Accordingly, Simto, an unlisted investment company with a paid-up capital of Rs 1.53 crore, has become a subsidiary of TICL, it said.
Tata Investment Corporation Limited is a non-banking financial company. Its shares Friday ended at Rs 429.10 apiece on the BSE, up 0.2 percent from their previous close.
PTI
