On October 16, Tata Motors' shares traded at Rs 666, marking a 0.14% decrease.
Tata Motors agreed to sell a 9.9% stake in Tata Technologies for Rs 1,613.7 crore.
Texas Pacific Group (TPG) Rise Climate SF Pte Ltd and Ratan Tata Endowment Foundation (RTEF) will acquire the stake.
TPG buys 9% of Tata Technologies, while RTEF acquires the remaining 0.9%.
Tata Motors will receive Rs 1,467 crore from TPG, and RTEF will pay Rs 146.7 crore. The transaction is expected to conclude by October 27.
Tata Technologies, a global engineering services company, is preparing for its IPO, offering 9.57 crore equity shares, representing 23.6% of the company's share capital.
Tata Technologies' IPO marks the first public offering from the Tata Group in almost two decades.