Tata Sons increases stake in Tata Steel to 33%
March 27, 2021
Tata Sons converts partly-paid shares to fully paid and buys from open market
Tata Sons, the part-owner of Tata Steel, has increased its stake in the company to 33 per cent from 30 per cent with conversion of partly paid equity shares into fully-paid and acquisition of shares from the open market.
The partly-paid shares were allotted to Tata Sons as part of a rights issue in 2018. It also acquired about 1.55 crore equity shares from the open market on March 12 and 13, the company said in an announcement on Monday.
Along with Tata Sons, other promoters group companies such as Ewart Investments, Tata Capital, Tata Investment Corporation, Tata Industries, Tata Chemicals, Tata Motors, Tata Motor Finance and Titan Company have also converted their partly-paid equity shares into fully-paid increasing their stake marginally.
Capital Trust Ltd appoints Mr. Milind Govindrao Deshmukh as COO
(Time Zone: Arizona, USA)
Mr. Milind Govindrao Deshmukh has been appointed as Chief Operating Officer (COO) of Capital Trust Ltd with effect from 9th December, 2020.
Mr. Milind has more than 25 years of senior management experience, including over a decade of strategic development and plan execution at large sized financial lending organisations, most recently as Addl. Director - Projects, with Pahal Microfinance Pvt. Ltd. Prior to that, Milind served as Vice President and Chief Operating Officer with Taraashna Financial Services Ltd., a company operating as a distinguished service provider to various banks & financial institutions on RBI's Financial Inclusion model, later acquired by Satin Creditcare Network Ltd. in 2017. Prior to Taraashna, Milind has held key positions with Tata Motor Finance, Equitas SFB, DCB Bank, GE, HDFC Bank etc.
No mileage in loan pause: Big-fleet cos
Large fleet operators across India were disappointed after the Reserve Bank of India didn't offer a one-time debt restructuring facility that they'd been expecting and instead extended a moratorium on loan repayments.
Mumbai: Large fleet operators across India were disappointed after the Reserve Bank of India didn't offer a one-time debt restructuring facility that they'd been expecting and instead extended a moratorium on loan repayments on Friday. Operators said extension of the loan moratorium by three months to August 31will only worsen their problems because their interest burden will keep mounting. Currently, they operate only about 15% of their fleet strength.