Govt to sell 16.12 pc stake in Tata Comm through OFS, rest to Tata Sons arm

The government will sell its entire stake in Tata Communications through an offer for sale and the rest to Tata Son’s investment arm Panatone Finvest Ltd, according to a regulatory filing.

Currently, the government holds 26.12 per cent stake in Tata Communications, Panatone Finvest Ltd 34.8 per cent and Tata Sons 14.07 per cent, respectively.

“Tata Communications Ltd has today (Friday) signed an amendment agreement between the President of India, Panatone Finvest Ltd, Tata Sons Private Ltd and the company for sale of the entire shareholding in the company by the Government of India,” Tata Communications Ltd (TCL) said in the BSE filing on Friday.