Shares of Tata Technologies Ltd traded lower on Tuesday after a large block deal involving a 2.1% equity stake, valued at approximately ₹634 crore, hit the markets. The deal was executed at a floor price of ₹744.5 per share, representing a 3% discount to Tata Technologies’ closing price of ₹767.5 on June 3.
As per media reports, the stake was sold by US-based private equity firm TPG through its arm TPG Rise Climate SF Pte Ltd. The transaction is being facilitated by BofA Securities and is reportedly structured as a “clean-up trade,” indicating a strategic exit by the investor.
Tata Technologies’ stock opened on a weaker note and was trading at ₹762.80, down 0.61% from the previous close. The day’s trading range was ₹754.20 to ₹765.50. The company’s market cap stood at ₹308.26 billion, with a trailing P/E ratio of 45.67 and dividend yield of 1.10%.
TPG’s partial exit comes after a strong performance by Tata Tech stock, which has gained over 15% in the past month. Neither TPG nor BofA Securities has issued an official statement on the deal as of now.
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