Mumbai: Investment bank Morgan Stanley on Monday launched a block trade for a transaction involving 1.73% of Tata Motors Ltd’s shareholding, according to a term sheet reviewed by Mint. The trade, which will be closed on Tuesday, will see an undisclosed entity sell 50 million shares in the company.

Shares are being offered at a price of up to Rs499.80, a 10% premium to the closing price on Monday of Rs454.4.

At the upper end of the price range, the trade would be worth almost Rs2,500 crore.

The block trade comes at a time when Tata Sons, the promoter of the auto maker, has called for a special shareholders’ meeting of Tata Motors on 22 December to remove Cyrus Mistry and Nusli Wadia as directors.

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