An affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, has committed to invest around US$360 million (Rs 2321 crore approx.) for around 43% equity stake in Tata Technologies Limited, a global leader in engineering outsourcing and product development IT services.
Warburg Pincus will purchase approximately 30% from Tata Motors Limited and its subsidiary Sheba Properties Limited, as well as the entire 13% stake held by Tata Capital (8.7% from Alpha TC Holdings Pte Ltd and 4.3% from Tata Capital Growth Fund I). Post the transaction, Tata Motors and affiliates of the Tata Group will continue to retain a significant minority interest of approximately 43% in Tata Technologies, with the remaining ownership held by the management team and other shareholders.
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