Ltd, a Tata group entity, has decided to increase its equity shareholding in Rallis India by offering to purchase equity shares from other qualifying "promoter group" Tata companies through inter-se transfer of shares.

The board of Tata Chemicals proposed to purchase up to 35.80% shares from other promoter group companies at a price not exceeding Rs 850 a share. However, the final price will be determined in accordance with the applicable SEBI rules and the rules of the stock exchanges.

At present, Tata Tea Ltd. (TTL) is the single-largest shareholder in Rallis India.

Reports suggested that out of 45.2% holding of the promoter group in Rallis, 24.5% is held by TTL, followed by 9.4% by Tata Chemicals, 7.5% by Tata Sons, 2.4% by Tata Investments and 1.4% by Ewart Investments.

On the other side, TTL has notified that it has received an offer from TCL to purchase up to 29.38 lakh equity shares of Rallis.