Tata Technologies share price tanks 6% as TPG likely sells 3.95% stake via block deal; stock down 50% from listing price
Tata Technologies share price today: Tata Technologies, part of the Tata Group, saw its shares slump 6% in early trade on Tuesday, April 29, to ₹ 662 apiece, after 16 million shares, or 3.95% of the company's total equity, changed hands in a block deal window today.
The buyers and sellers, however, were not immediately known. On Monday, April 28, NDTV Profit reported that TPG Rise Climate, an entity linked to US private equity firm TPG Inc., was looking to sell 15.86 million shares, or a 3.89% stake, in the company.
Sources told NDTV Profit that the private equity firm planned to sell shares in a price range of ₹ 670 to ₹ 699, with a discount of as much as 5% to Monday's closing price. The climate-focused investor held a 6.01% stake, with nearly 2.43 crore shares in Tata Technologies as of March 2025.
Tata Technologies' primary business line is services, including providing outsourced engineering services and digital transformation services to global manufacturing clients, helping them conceive, design, develop, and deliver better products.
Tata Technology's shares debuted on the Indian stock market on November 30, 2023, listing at ₹ 1,200 apiece against the IPO price of ₹ 500. Despite a strong entry on Dalal Street, the stock couldn't sustain the momentum in the following months and has closed in the red in 13 out of the last 18 months (including April), losing 50% of its value. However, it is currently trading 32% above its IPO price.
On April 25, the company reported a net profit of ₹ 188.87 crore for the January–March quarter of FY25, marking a 20% improvement compared to a net profit of ₹ 157.24 crore reported in the corresponding quarter of the previous financial year.
While net profit rose, Tata Technologies' revenue from operations declined by 1.18% year-on-year (YoY) to ₹ 1,285.65 crore. Its operating EBITDA stood at ₹ 233 crore, with operating profit margins remaining flat at 18%.
Tata Technologies also announced a final dividend of ₹ 8.35 per share and a one-time special dividend of ₹ 3.35 per share. While announcing its Q4 results, Tata Tech said it closed a total of 17 large deals in FY25, which included one marquee deal exceeding $500 million, two $50-million-plus deals, and one $20-million-plus deal.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
First Published: 29 Apr 2025, 10:07 AM IST
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