Daimler AG sold 5.34% stake or 25.5mn equity shares in Tata Motors through a block deal on Tuesday morning, the deal was done at an average price of Rs750 per share on the BSE.
Through this share sale, Daimler AG has managed to raise Rs19.12bn. Citigroup is the sole banker to the Tata Motors block deal.
Shares of Tata Motors declined by 3.5% to end at Rs770. The scrip opened at Rs765 it touched an intra-day high of Rs790 and a low of Rs750 and recorded volumes of over 43.8mn shares on BSE.