Tata Sons Invests Rs 1,432 Cr in Tata Projects' Rights Issue

Tata Sons will invest Rs 1,432 crore in Tata Projects' rights issue, the engineering and construction unit of the Tata Group. The investment is a part of Tata Projects' move to raise Rs 2,500 crore from its shareholders. The investment will be funded through the dividend received by Tata Sons from Tata Consultancy Services (TCS). Tata Projects is contemplating listing on the exchanges after the rights issue. The firm has a solid balance sheet, with cash accruals projected at Rs 300-400 crore in FY25 and an unsecured cash corpus of over Rs 600 crore as of June 2024.

 

Source: Business Standard, Beamstart, Financial Express