TPG's Strategic Stake Reduction in Tata Technologies: A Market Analysis
Private equity firm TPG sold a 2.1% stake in Tata Technologies for Rs 638 crore, reducing its shareholding to 3.91%. The US-based firm has previously divested stakes in Tata Tech. Societe Generale purchased shares in Choice International, while BNP Paribas reduced its stake.
- Country:
- India
In a strategic move, private equity giant TPG divested a 2.1% stake in Tata Technologies on Wednesday, netting Rs 638 crore via an open market transaction.
TPG's affiliate, TPG Rise Climate SF, sold 85.16 lakh shares at an average price of Rs 749.10 each, as per BSE bulk deal data. This sale reduced their stake in Tata Technologies from 6.01% to 3.91%.
While details of buyers remain undisclosed, Tata Technologies' share price experienced a minor decline, closing at Rs 759.65 on the BSE. Concurrent market activity saw Societe Generale acquiring a stake in Choice International, as BNP Paribas decreased its holdings.
(With inputs from agencies.)
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