Tata Motors Limited has initiated a significant corporate action concerning the cancellation of its ‘A’ Ordinary Shares, in line with a Scheme of Arrangement approved by the National Company Law Tribunal (NCLT), Mumbai Bench. The company has successfully completed the sale of over 11 million New Ordinary Shares (NOS) on the stock exchanges as part of this process.
In accordance with the Scheme and the Trust Deed, TML Securities Trust, under the guidance of Axis Trustee Services Limited, facilitated the sale of 1,14,97,462 NOS to fulfill the distribution of fractional share entitlements and to address tax liabilities.
The proceeds from this sale will soon be distributed in cash to eligible ‘A’ Ordinary Shareholders. Additionally, shareholders will receive the remaining NOS credits to their respective demat accounts based on their entitlements. Tata Motors has confirmed that individual notifications will be sent to the affected shareholders, and updates will be provided to the stock exchanges once the distribution process is complete.
This move is part of Tata Motors’ broader efforts to streamline its capital structure and deliver value to its shareholders. The company remains committed to keeping shareholders informed throughout the process informed Maloy Kumar Gupta, Company Secretary.
For further information, shareholders and stakeholders are encouraged to monitor updates from Tata Motors and the respective stock exchanges.
