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Tata Motors has divested its entire stake in wholly owned subsidiary Sheba Properties for another group firm Tata Motors Finance for Rs 405.37 crore.
Tata Motors has said in a regulatory filing that the share purchase agreement has been executed.
It further added that “Based on an independent valuation equity share value is estimated at Rs 405.37 crore.”
The company has further said that the sale has been consummated at Rs 540.5 per share of Rs 100 each.
