Mumbai, Oct. 9 :    Mumbai, Oct. 9:  The Tatas today sold 6.77 per cent stake in Forbes Gokak Ltd (FGL) to Sterling Investment Corporation Pvt Ltd, a Pallonji Mistry group company, at Rs 80 per share. Tata's direct holding in FGL of 14.82 per cent was held by Tata Sons Ltd, Ewart Investments Ltd, Bambino Investments Ltd and Tata Investment Corporation Ltd, the Tata group said in a release here after selling shares on spot transaction basis. Out of these holdings, the entire stakes of Tata Sons, Ewart Investments and Bambino Investments and part holding of Tata Investment Corporation were sold at Rs 80 per share, it said. The holding of the present promoter group now stands reduced to 18.29 per cent (earlier 25.06 per cent of Rs 12.45 crore paid up capital of FGL) including the residual 8.05 per cent held by Tata Investment Corporation, which would be divested later, it added. Pallonji Mistry group's holding in FGL has increased to 14.88 per cent (8.11 per cent) and it would make an open offer to public shareholders (other than the promoter group) to acquire an additional 20 per cent at Rs 80 per share. The FGL scrip closed at Rs 50.80 on the Bombay Stock Exchange yesterday.