Tata Motors inks agreements to sell 9.9% stake in Tata Technologies

Tata Motors Passenger Vehicles Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 500570 | NSE: TMPV

16 Oct 2023 Evaluate

Tata Motors (TML) has entered into share purchase agreements to sell 9.9% stake in Tata Technologies (TTL) for an aggregate consideration of Rs 1,613.7 crore. TPG Rise Climate is the lead investor for this transaction, which ascribes an equity valuation of Rs 16,300 crore (around $2.0 billion) for TTL. This transaction furthers TML’s de-leveraging agenda and is expected to close in the next two weeks on completion of customary closing procedures.

TTL, a subsidiary of TML, is a leading global engineering services company offering product development and digital solutions to global original equipment manufacturers. TTL has deep domain expertise in the automotive industry and leverages this expertise to serve clients in adjacent industries, such as in aerospace, transportation and construction heavy machinery. TTL’s deep manufacturing domain knowledge and globally distributed service delivery capability helps it deliver value-added services to its clients.

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. TPG Rise Climate had earlier invested $1.0 billion in Tata Passenger Electric Mobility and is a strategic partner in TML’s journey to create a market-shaping electric passenger mobility business in India.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

Tata MotorsPassenger Share Price

358.00 17.80 (5.23%)

06-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Tata MotorsPassenger	358.00
Maruti Suzuki	13720.55
Mahindra & Mahindra	3300.00
Hyundai Motor India	1840.35
Mercury Metals	31.62
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