Tata Motors to sell 9.9% stake in Tata Technologies

On October 13, Tata Motors announced that it had reached an agreement to sell a 9.9% share in Tata Technologies, which is set to go public, for Rs 1,613.7 crore to Ratan Tata Endowment Foundation and TPG Rise Climate SF Pte. Ltd., a private equity firm that focuses on climate change, for an equity valuation of Rs 16,300 crore.

 

TPG, which also made an investment in the electric car division of Tata Motors, will acquire 9% of Tata Technologies, with Ratan Tata Endowment Fund (RTEF) acquiring the remaining 0.9%.

According to the firm, RTEF would pay Rs 146.7 crore and Tata Motors will earn Rs 1,467 crore in exchange for selling its interest to TPG. It stated that the transaction must be finished by October 27, 2023.

 

The upcoming initial public offering of Tata Technologies, which is anticipated, will mark the Tata Group's first such offering in nearly two decades. Up to 9.57 crore equity shares, or 23.6 percent of the company's paid-up share capital, would be sold as part of the IPO by Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund I.

 

Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers. 

Interested in Tata Motors market cap? Discover the latest valuation insights.

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