Tata Technologies Ltd.'s public shareholder TPG Rise Climate Sf Pte. offloaded a 3.91% stake in the company for around Rs 1,064 crore through bulk deal on Tuesday.
TPG Rise Climate, an entity linked to US private equity firm TPG Inc., has sold 1.58 crore shares at Rs 673.26 apiece. The climate-focussed investor held 6.01% stake with total number of nearly 2.43 crore shares in Tata Technologies as of March 31, 2025.
Irage Broking Services LLP bought 27.32 lakh shares or a 0.67% stake at Rs 674.12 apiece. This takes the deal value to around Rs 184 crore.
NDTV Profit had reported on Monday that TPG Rise Climate was likely to cut down its stake in Tata Technologies through bulk deal.
Earlier on April 25, Tata Technologies posted a 12% sequential rise in its net profit for the March quarter, thereby beating analysts' estimates. The company's bottom-line rose to Rs 188.87 crore during the January-March period, as compared to the consensus estimate of Rs 177.75 crore of the analysts polled by Bloomberg.
Shares of Tata Technologies on Tuesday closed 5.94% lower at Rs 663.70 apiece on the NSE, compared to a 0.03% rise in the benchmark Nifty 50. The stock has fallen by 37.79% in the last 12 months and 25.54% on a year-to-date basis.
Three out of 14 analysts tracking Tata Technologies have a 'buy' rating on the stock and 11 suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 9%.
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