TPG Sells 3% Stake in Tata Tech for Rs 1,230 Crore - Business News
Aug 27, 2024 20:29
TPG's investment arm offloads 3% stake in Tata Technologies for Rs 1,230 crore through an open market transaction. The stake sale was made at an average price of Rs 1,014.16 per share.
New Delhi, Aug 27 (PTI) TPG on Tuesday divested a 3 per cent stake in Tata Technologies for Rs 1,230 crore through an open market transaction.
TPG, through its investment arm TPG Rise Climate SF Pte Ltd, offloaded over 1.2 crore shares, or 2.99 per cent stake, in Tata Tech at an average price of Rs 1,014.16 crore, according to the bulk deal data available on the BSE.
With this stake sale, the shareholding of TPG Rise Climate SF in Tata Tech came down to around 6 per cent from 9 per cent as of June 2024.
Copthall Mauritius Investment Ltd purchased a 0.99 per cent stake, or 40 lakh shares, in Tata Tech, taking the transaction value to Rs 406 crore.
Hedge fund Ghisallo Master Fund LP bought a 0.77 per cent stake, or 31,22,686 shares, in Tata Technologies for over Rs 316 crore.
These entities acquired Tata Tech shares at an average price of Rs 1,013 apiece on the BSE.
Details of other buyers of Tata Tech shares could not be ascertained.
Shares of Tata Technologies settled 4.81 per cent higher at Rs 1,099.05 per cent on the BSE.
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