Former Tata Technologies CEO McGoldrick Sells Rs 164.85 Crore Worth of Shares
Patrick Raymon McGoldrick reduced his stake in Tata Technologies to 0.62 percent after selling approximately 2.1 million shares on the BSE.
Former Tata Technologies CEO Patrick Raymon McGoldrick sold shares worth Rs 164.85 crore through block deals on the Bombay Stock Exchange. He offloaded 2.1 million shares across four tranches on Friday at an average price of Rs 785 each. Prior to this transaction, McGoldrick held a 1.13 percent stake; his holding now stands at 0.62 percent. The proceeds likely benefited him following his retirement as Chief Executive Officer and Managing Director in September 2014 after two decades with the company. McGoldrick currently serves as an Executive Director at RNT Associates International Pte Ltd, a subsidiary of the Tata Group. He was succeeded by Warren Harris in November 2017. Buying interest came from ICICI Prudential Mutual Fund, Kotak Mahindra MF, 360 One Asset Management, and Carnelian Asset Management & Advisors. They collectively purchased an equal number of shares at the same price during the four tranches. Tata Technologies shares closed Friday at Rs 799.85, settling 0.59 percent lower than their previous value.
