Tata Sons, in a significant move, will increase its stake to 41.06 percent in the low cost carrier AirAsia India.

A spokesperson of Tata Sons said, “We are in the process of subscribing to the capital of AirAsia India which will take up our stake to 41.06 percent from the current 30 percent.”

Tata Sons is likely to acquire the additional stake from Arun Bhatia’s Telestra Tradeplace which currently holds 21 percent stake in AirAsia India.

Read other important stock market news