News > Tata Coffee, Tata Consumer shares rally on merger announcement

Tata Coffee, Tata Consumer shares rally on merger announcement

Shares of Tata Coffee Ltd rallied up to 12% whereas that of Tata Consumer Products surged about 5% on the BSE in Wednesday's trading session after parent Tata Consumer Products Ltd revealed that it would streamline its coffee business by merging the company with itself.

Under the scheme, shareholders of TCL (other than TCPL) will receive an aggregate of 3 equity shares of TCPL for every 10 equity shares held by them in TCL.