PE firm TPG sells 3.9% stake in Tata Technologies for ₹1,068 crore

Private equity firm TPG on Tuesday divested a 3.9 per cent stake in Tata Technologies for Rs 1,068 crore through an open market transaction.

According to the bulk deal data available, TPG through its arm TPG Rise Climate SF offloaded more than 1.58 crore shares of Tata Technologies, which provides engineering and product development digital services.

The shares were disposed of at an average price of Rs 673.26 apiece on the National Stock Exchange (NSE), taking the aggregate deal value to Rs 1,068.05 crore.

After the latest transaction, TPG's arm holding in Tata Technologies declined to 2.1 per cent from 6 per cent.

Details of the buyers of Tata Technologies' shares could not be ascertained on the National Stock Exchange (NSE).

On Tuesday, shares of Tata Technologies declined 6.11 per cent to close at Rs 662.50 apiece on the NSE.

In a separate block deal on the NSE, seven entities, including Citigroup Global Markets, BofA Securities Europe, and Tata Mutual Fund, bought 87.21 lakh shares or 3.94 per cent stake in Samhi Hotels for Rs 152 crore through open market transactions.

Global investment manager TT International through its affiliates, Steinberg India Asset Management, LGT Capital Partners and CBJ as Trustee for SMBCTB Emerging Markets Impact MF were the other entities who acquired shares in Gurugram-based Samhi Hotels.

The shares were picked up at an average price of Rs 174.30 per piece, taking the combined deal value to Rs 152.01 crore.

Meanwhile, a shareholder -- Blue Chandra Pte Ltd -- has exited Samhi Hotels by selling its entire 3.94 per cent stake in the firm.

The shares were sold by Blue Chandra at the same price on the exchange.

The scrip of Samhi Hotels rose 3.86 per cent to close at Rs 182.80 apiece on the NSE.