Tata Steel Ltd on Friday sold shares worth $376 million (Rs.2,500 crore) in Tata Motors Ltd, the country’s largest automaker by revenue, as part of an unwinding of its extensive cross-holdings and reducing debt on its books.
Tata Steel sold 38,520,801 shares of Tata Motors to undisclosed institutional investors on the stock exchange for a total consideration of Rs.1,250.69 crore, the company said in a filing to the BSE.
