Tata Motors on 13 October announced to sell its 9.9 percent in Tata Technologies Limited (TTL) for aggregate consideration of ₹1,614 crore, it said in a stock regulatory filing.
The automotive major entered into share purchase agreements to sell its stake in its subsidiary, for which TPG Rise Climate is the lead investor that ascribes an equity valuation of ₹16,300 crore of TTL.
“Tata Motors Limited (TML) has entered into share purchase agreements to sell 9.9% stake in Tata Technologies Ltd (TTL) for an aggregate consideration of INR 1,613.7 crore. TPG Rise Climate is the lead investor for this transaction, which ascribes an equity valuation of INR 16,300 Cr (~US$ 2.0 billion) for TTL,” Tata Motors said.
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Updated: 13 Oct 2023, 07:12 PM IST