Tata Technologies Shareholder Offloads Stake Worth Rs 1,230 Crore
Earlier this month, Alpha TC Holdings offloaded 99.1 lakh shares for Rs 1,004 crore.
TPG Rise Climate Sf Pte, a shareholder of Tata Technologies Ltd., divested a 2.98 stake for Rs 1,230 crore through open market transactions on Tuesday. TPG Rise Climate offloaded 1.21 crore shares in the Pune-based engineering, research, and development firm at Rs 1,014 apiece, according to bulk deal data on the BSE.
The foreign investor held a 9% stake in Tata Technologies as of June. After the sale, TPG Rise Climate's stake will come down 6.02%.
Copthall Mauritius Investment acquired 40.1 lakh shares for Rs 406 crore. Ghisallo Master Fund bought a 0.76% stake at Rs 1,013 per share.
Earlier this month, Alpha TC Holdings Pte offloaded 99.10 lakh shares for Rs 1,004 crore, according to the BSE data. As of June, Alpha TC Holdings held a 4.34% stake in the company.
This was the first company from the Tata Group to float an initial public offer in nearly two decades. Tata Consultancy Services Ltd. was the last IPO from the group in 2004.
Tata Technologies' stock rose as much as 5.56% during the day to Rs 1,107 apiece on the NSE. It closed 4.84% higher at Rs 1,099.40 per share, compared to a 0.03% advance in the benchmark Nifty 50. The share price has fallen 16.27% in the last 12 months and 6.87% on a year-to-date basis.
