Tata Motors to sell 9.9% stake in Tata Tech for ₹1,613.7 crore to TPG Rise-led investors

Published - October 13, 2023 08:39 pm IST - MUMBAI

Tata Motors Ltd. (TML) said it had entered into share purchase agreements to sell 9.9% stake in Tata Technologies Ltd. (TTL) for an aggregate consideration of ₹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 in a statement.  “This transaction furthers TML’s de-leveraging agenda and is expected to close in the next two weeks on completion of customary closing procedures,” TML added in the statement.

TPG Rise Climate had earlier invested $1 billion in Tata Passenger Electric Mobility Ltd.

TTL, a subsidiary of Tata Motors, is a global engineering services company which offers product development and digital solutions to global original equipment manufacturers. It has deep domain expertise in the automotive industry and leverages the expertise to serve clients in adjacent industries such as aerospace, transportation, and construction heavy machinery. 

TPG Rise Climate is the dedicated climate investing arm of TPG’s $18 billion global impact investing platform. The fund focuses on five climate sub-sectors: energy transition, green mobility, sustainable fuels, sustainable molecules, and carbon solutions.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.