Tata Motors sold a 9.9% stake in its subsidiary, Tata Technologies, for an equity valuation of Rs 16,300 crore ($2B) to TPG Rise Climate and the Ratan Tata Endowment Foundation, marking a strategic move to alleviate debt and secure capital for its electric vehicle venture.
Tata Motors sold 9% to TPG Rise Climate for ₹1,467 crore and 0.9% to the Ratan Tata Endowment Foundation for ₹146.7 crore.
This sale not only aids Tata Motors but also signifies an positive outlook for Tata Technologies and the Tata Group as a whole. It reflects investor confidence in the company’s growth potential, notably within the electric vehicle sector.
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