Trent to sell 3.22% in Tata Unistore to Tata Digital

8 Dec 2022 , 03:31 PM

Trent will divest its stake of approximately 3.22% of TUL on a fully diluted basis in the region of Rs 24.14 crore to TDPL. TUL is engaged in the business of operating an e-commerce business under the brand names Tata CLiQ and Tata CLiQ Luxury. Its turnover as on 31 March 2022 stood at Rs 845 crore. TDPL is a promoter group company. The proposed transaction is at arms length basis an independent valuation exercise. Trent operates Westside, one of Indias leading chains of fashion retail stores, Zudio, which is a one shop destination to get fashion at great value, Trent Hypermarket, which operates in the competitive food, grocery and daily needs segment under the Star banner, and Landmark Stores, a family entertainment format store On consolidated basis, the companys net profit increased marginally to Rs 93.02 crore in Q2 FY23 as compared to Rs 92.58 crore in Q2 FY22. Net sales rose 65.8% year on year to Rs 1,952.74 crore in Q2 FY23. Shares of Trent fell 0.21% to Rs 1459.75 on the BSE. Powered by Capital Market – Live News