Morgan Stanley looks forward to purchase Tata Motors’ shares

Morgan Stanley has begun the procedure for an undisclosed purchaser to for approximately 50 million shares of Tata Motors Ltd from the marketplace in a prospective 24.99 billion-rupee ($370.8 million) offer, as per a termsheet observed by Reuters on Monday.

The deal cost as much as 499.80 rupees a share for approximately 1.73 percent stake in Tata Motors is at a 10 percent premium to the stock’s Monday closing cost of 454.40 rupees.

Trusts and firms connected to Tata Group owned a 3rd of Tata Motors since end-September, as per stock exchange information.