Tata Chemicals is set to increase its stake in Rallis India by acquiring shares from other promoters. The company will buy up to 35.8% stake at maximum price of Rs 850 per share in Rallis India via inter-se transfer. Tata Chemicals will buy stake in Rallis India from the promoters including Tata Tea.

Tata Tea holds 24.5% stake in Rallis India. Tata Chemicals holds 9.4% stake in Rallis India. No open offer is needed as it would be promoter inter-se transfer.

Rallis India touched a 52-week high of Rs 815. At 10:45 am, the share was quoting at Rs 795, up Rs 58.05, or 7.88% with volumes of 23,026 shares. Yesterday the share closed up 6.82% or Rs 47.05 at Rs 736.95.