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Tata Tech Shares Hit Day’s Low After Rs 1,376.40 Crore Block Deal – Alice Blue

Tata Tech shares drop to Rs 1,021.55 following ₹1,376.40 Crore Deal on August 27, 2024. This follows a prior Rs 1,218.50 crore transaction.
Tata Tech Shares Hit Day's Low After Rs 1,376.40 Crore Block Deal - Alice Blue

Tata Tech shares saw a significant transaction on August 27, with trades amounting to Rs 1,376.40 crore. Around 1.30 crore shares, representing 3.3% of the company, were exchanged at a price of Rs 1,027 each. After this major block deal, Tata Tech shares fell to their lowest point of the day, hitting Rs 1,021.55 on the NSE.

This major deal comes on the heels of another large transaction from the previous week. During that trade, 2.9% of Tata Tech’s shares were sold in a deal valued at Rs 1,218.50 crore. In that transaction, private equity firm Alpha TC Holdings reduced its stake in Tata Tech.

Domestic funds and High Net Worth Individuals (HNIs) purchased the shares, and ICICI Securities was likely the broker for the deal. The stake sale occurred approximately nine months after Tata Tech’s market debut in November last year.

In Tata Tech’s initial public offering (IPO), Tata Motors sold 11.4% of its stake, and Alpha TC Holdings sold 2.4%. By the end of the June quarter, Alpha TC Holdings still retained a 4.34% stake in Tata Tech.

The recent block deals reflect ongoing changes in Tata Tech’s shareholder structure, following its IPO and early market performance.

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