Tata Technologies saw a large block trade on stock exchanges on August 23 as private equity firm Alpha TC Holdings sold over 75 lakh shares in the range of Rs 1,010-Rs 1,020 per share, reported CNBC Awaaz citing sources.
Domestic funds and High Net worth Individuals (HNIs) are the buyers in the trade, while ICICI Securities is likely to be the broker of the deal, the channel reported.
The stake sale comes nearly 9 months after the listing of the Tata group company in November last year.
In the Tata Tech IPO in 2023, Tata Motors divested 11.4 percent of its stake while Alpha TC Holdings offloaded 2.4 percent stake. As of June 2024, Alpha TC had 4.34 percent stake in the company, showed exchange data.
Additionally, CNBC-TV18 reported about 1.2 crore shares or 2.9 percent equity worth Rs 1,218.5 crore changed hands at Rs 1,019.8 per share. Moneycontrol could not immediately confirm the details of the buyers and sellers involved in the deal.
The counter settled 3.16 percent higher at Rs 1,039 per share on the National Stock Exchange (NSE), up 3.16 percent.
The company reported a net profit of Rs 162.03 crore for the June quarter of FY25, down 15.4 percent from the year-ago period. At Rs 1,268.97 crore the revenue was better than Rs 1,257.53 in the year-ago period but was down 2.46 percent over the March quarter.
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