This Company Sold 3 Percent Stake In Tata Tech, Here’s The Deal

Asset management firm TPG has sold a three per cent stake in Tata Technologies for Rs 1,230 crore through an open market transaction. As per bulk transaction data available on BSE, TPG, through its investment arm TPG Rise Climate SF Pte Ltd, sold over Rs 1.2 lakh crore worth of shares or 2.99 per cent stake in Tata Tech at an average price of Rs 1,014.16 crore.

Now this remains

With this sale, TPG Rise Climate SF’s stake in Tata Tech has been reduced from nine per cent to about six per cent by June 2024. Copthol Mauritius Investment Limited has purchased 0.99 per cent stake in Tata Tech i.e. 40 lakh shares, taking the transaction value to Rs 406 crore.

Full details have not yet been revealed.

Hedge fund Gisalo Master Fund LP bought 0.77 per cent stake or 31,22,686 shares in Tata Technologies for over Rs 316 crore. These units bought Tata Tech shares at an average price of Rs 1,013 on BSE. Details of other buyers of Tata Tech shares could not be found. Tata Technologies shares closed at Rs 1,099.05, up 4.81 per cent on the BSE.

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There was a surge in the market today.

There was a lot of volatility in the local equity markets on Tuesday with BSE Sensex gaining just 14 points. However, Nifty hit its highest level ever of 25,017 points. The market remained stable due to profit booking amid rising tension in West Asia and Ukraine. The 30-share Sensex remained bullish for the sixth consecutive session and closed at 81,711.76 points with a gain of 13.65 points or 0.02 per cent. During trading, it touched a high of 81,919.11 points and a low of 81,600.51 points. The National Stock Exchange’s Nifty also closed at 25,017.75 points with a nominal gain of 7.15 points or 0.03 per cent. This is the ninth consecutive session that Nifty has been rising.