Tata Power Company's subsidiary - NELCO and Af-Taab Investment Company (Af-Taab), a wholly owned subsidiary of the company, along with other shareholders of Nelito, have entered into an agreement for sale of shares of Nelito to DTS Corporation, Japan. Both NELCO and Af-Taab together hold 49.89% in Nelito Systems (Nelito).

NELCO will sell 9.95% stake in Nelito for Rs 37.9 million, while Af-Taab will sell 12.30% stake in Nelito for Rs 4.69 crore. Post sale, NELCO will hold 12.30% stake in Nelito, while Af-Taab will hold 15.34% stake in Nelito.

Shares of the company declined Rs 0.65, or 0.75%, to trade at Rs 85.85. The total volume of shares traded was 105,839 at the BSE (10.47 a.m., Monday).