Ex-Tata Technologies CEO Sells Shares Worth Rs 165 Crore

The shares were picked up by institutional investors, including ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, 360 One Asset Management and Carnelian Asset Management & Advisors.

McGoldrick retired as CEO and Managing Director of Tata Technologies in September 2014, after a two-decade association with the company.

Why this sale is notable in timing: Tata Technologies listed on the BSE and NSE in early December 2023, at an issue price of Rs 500 per share, and debuted with a roughly 140 per cent listing-day gain to around Rs 1,200 — the first Tata Group IPO in nearly two decades at the time. That McGoldrick was still holding a meaningful stake more than a decade after stepping down as CEO, only monetising a substantial chunk of it now via Friday's block deals, means this sale reflects a long-held, founder-era position rather than a recent grant. Even at Friday's average sale price of Rs 785 — below the stock's post-listing highs — that price still sits well above the original Rs 500 IPO issue price, meaning the transaction represents a solid gain relative to the listing price, if a more modest one compared to the stock's peak.

Shares of Tata Technologies settled at Rs 799.85 on Friday, down 0.59 per cent on the BSE. The stock has touched a 52-week high of Rs 890.15 and a 52-week low of Rs 507.50, and has declined more than 2 per cent over a two-year horizon.

On the financial side, the Pune-headquartered firm posted a consolidated net profit of Rs 204.17 crore for the March quarter, with revenue from operations at Rs 1,572.22 crore. Consolidated net profit for FY26 declined to Rs 546.59 crore from Rs 676.95 crore in FY25. The company also reported an 11.5 per cent sequential decline in consolidated net profit for the first quarter of FY27, posting Rs 181 crore for April-June compared with Rs 204 crore in January-March, according to its stock exchange filing.