Tata Group's Strategic Stake Sale in Massimo Dutti India

Trent, a Tata Group retail company, will sell a 29% stake in Massimo Dutti India to its major partner, Grupo Massimo Dutti, reducing its shareholding to 20%. The sale, valued at Rs 20.75 crore, follows a board-approved proposal and involves transferring 1,75,450 equity shares.

Trent, the retail arm of Tata Group, is set to sell a 29% stake in Massimo Dutti India to Grupo Massimo Dutti, Spain, reducing its shareholding to a mere 20%. The strategic move, valued at Rs 20.75 crore, signifies a shift in its business operations with the Spanish clothing brand.

The widely regarded decision was endorsed during a Trent board meeting on Thursday. It involves divesting 1,75,450 equity shares of a face value of Rs 1,000 each, translating to an aggregate sale price that aligns with the offer from Grupo Massimo Dutti.

Inditex Group, the global parent company behind the Massimo Dutti brand, collaborates with Trent in another joint venture, managing Zara's business in India. Notably, the Zara venture posted substantial revenue figures of Rs 2,769 crore in FY24, highlighting the robust Indo-Spanish retail partnership.

(With inputs from agencies.)