Sebi gives Pantone Finvest conditional exemption from an open offer for Tata Communications
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Currently, 75% of the company is held by the promoters, while 25% is held by the public. The government is also a promoter in the company and holds about 26% stake, which it is planning to divest.
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The Securities and Exchange Board of India (Sebi) has given Pantone Finvest, a Tata Sons subsidiary, conditional exemption from an open offer for
Tata Communications in which the Centre is seeking to reduce its ownership.
Currently, 75% of the company is held by the promoters, while 25% is held by the public. The government is also a promoter in the company and holds about 26% stake, which it is planning to divest.