German carmaker Daimler is selling its entire stake in Tata Motors to raise up to USD429 million worth of shares, sources said on Monday. Daimler offered 25.6 million shares in India’s largest vehicle maker at a discount of 4-7 percent below Monday’s closing price of INR796.75 (USD17.54), from INR737.4 (USD16.20) to INR761.3 (USD16.72).
(Source: Business Standard)