CCI approves Tata Sons’ plan to acquire additional 10% stake in Tata Play | Stock Market News
Source: Live Mint
The Competition Commission of India (CCI), the country’s antitrust regulator, on Monday, March 17, announced that it had approved Tata Group’s holding firm Tata Sons’ plan to purchase an additional stake in Tata Play.
According to an official notification, the antitrust regulator allowed Tata Sons to raise its stake in Tata Play by an additional 10 per cent. Tata Play is the group’s digital content distribution arm.
The disclosed data shows that Tata Sons will purchase the additional stake from Baytree Investments, a Mauritius-based investment firm.
“CCI approves the acquisition of an additional 10% shareholding in Tata Play Limited by Tata Sons Private Limited from Baytree Investments (Mauritius) Pte Ltd,” the CCI said in its post on X.
What is Tata Play?
Tata Play Limited is a content distribution platform established in 2001 that started offering services in 2006. The company provides digital services such as Pay TV features and OTT services, according to the official data on the Tata Play website.
The company is aggregating platforms in its OTT space with the introduction of Tata Play Binge, which gives users access to multiple OTT applications like Amazon Prime Video, Apple TV+, Disney+ Hotstar, and Zee5, among many others.
Tata Sons’ Investment Plans
Tata Group’s holding firm, Tata Sons, also has plans to invest ₹1,432 crore in Tata Projects rights issue, the conglomerate’s engineering and construction arm, reported the Business Standard.
The board of directors cleared the rights issue on March 13, as Tata Projects aims to raise ₹2,500 crore from its existing shareholders.
The newspaper report also highlighted that after the rights issue move, the company is likely to consider listing proposals on the Indian stock markets.
Tata Sons’ subsidiary Tata Motors also announced its plans to potentially approve a ₹2,000 crore fundraising proposal, according to an earlier report by Mint’.
As per the report, the company aims to raise the funds through the issue of rated, listed, unsecured, redeemable, non-convertible debentures (NCD) on a private placement basis. Tata Motors will hold a board meeting on Wednesday, March 19, 2025.
