A large deal involving shares worth Rs 1,376.40 crore of Tata Technologies took place on the exchanges on August 27. Around 1.30 crore shares, making up a 3.3 percent stake in the company changed hands at a floor price of Rs 1,027 apiece.
Moneycontrol could not immediately verify the buyers and sellers in the transaction.
Following the block deal, shares of Tata Technologies witnessed a negative knee jerk reaction, slipping to its day's low of Rs 1,021.55 on the NSE.
This large deal is comes after another major stake sale happened in the counter last week. A total of 2.9 percent stake was sold in a block deal worth Rs 1,218.50 crore as private equity firm Alpha TC Holdings diluted its equity in the company.
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Domestic funds and High Net worth Individuals (HNIs) were the buyers in the trade, while ICICI Securities likely brokered the deal.
Meanwhile, the stake sale took place nearly nine months after the Tata group company made its market debut in November last year. In Tata Tech's IPO, Tata Motors divested 11.4 percent of its stake, while Alpha TC Holdings sold 2.4 percent. As of the end of the June quarter, Tata Tech's shareholding data showed that Alpha TC still held a 4.34 percent stake in the company.
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