Tata Technologies, an engineering solutions and IT product developer, on Tuesday said it has raised about Rs 141 crore by selling 13.04 per cent equity stake to Alpha TC Holdings and Tata Capital Growth Fund (TCGF)I.
“With this investment (USD 30 million), we will continue to aggressively grow our business and provide our customers with better, more innovative products,” said Patrick McGoldrick, Tata Technologies Managing Director and CEO in a statement.
The investment represents a 13.04 per cent equity stake on fully diluted basis, the company said in the statement. Alpha TC is wholly-owned subsidiary of the partnership sponsored by Mizuho Securities and other international investors.
Source: Economic Times