Tata Technologies IPO Update

On October 16, Tata Motors' shares traded at Rs 666, marking a 0.14% decrease.

Tata Motors Sells Stake

Tata Motors agreed to sell a 9.9% stake in Tata Technologies for Rs 1,613.7 crore.

Buyers of Tata Technologies Stake

Texas Pacific Group (TPG) Rise Climate SF Pte Ltd and Ratan Tata Endowment Foundation (RTEF) will acquire the stake.

Buyer's Share Purchase

TPG buys 9% of Tata Technologies, while RTEF acquires the remaining 0.9%.

Consideration for the Sale

Tata Motors will receive Rs 1,467 crore from TPG, and RTEF will pay Rs 146.7 crore. The transaction is expected to conclude by October 27.

Tata Technologies and Upcoming IPO

Tata Technologies, a global engineering services company, is preparing for its IPO, offering 9.57 crore equity shares, representing 23.6% of the company's share capital.

Historic Tata Group IPO

Tata Technologies' IPO marks the first public offering from the Tata Group in almost two decades.