Top US private equity firm TPG is planning to dilute its entire stake in Tata Technologies via the block deal route, multiple industry sources in the know told Moneycontrol .
The stake is held by an entity named TPG Rise Climate Sf Pte Ltd and investment bank BofA Securities is acting on the proposed clean out trade which has been launched, these sources added.
The private equity firm is looking to sell 2.1 per cent stake with the proposed offer size of around $74 mn and the offer price range is between Rs 744.5/share -Rs 767.5/share, a 0 to 3 per cent discount to the price at the end of day's trade on June 3, according to a termsheet reviewed by Moneycontrol.
TPG and BofA Securities couldn't be reached for an immediate comment.
The share price of Tata Technogies has risen by more than 15 per cent in the last month.
( This story will be updated shortly)
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