Patrick Raymon McGoldrick, former CEO and Managing Director of Tata Technologies, has sold shares worth nearly ₹165 crore through block deals on the BSE. McGoldrick offloaded 21 lakh shares in four tranches, representing about 0.51% of the company’s equity.

The shares were sold at an average price of ₹785 each, taking the transaction value to ₹164.85 crore. Following the sale, McGoldrick’s holding in Tata Technologies declined sharply from 1.13% to 0.62%. He retired as CEO and MD in September 2014 after a two-decade association with the company.

Importantly, the shares found strong institutional buyers. ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, 360 ONE Asset Management and Carnelian Asset Management & Advisors collectively acquired the shares, indicating institutional appetite despite the large block transaction.

The market reaction remained relatively contained, with Tata Technologies shares closing 0.59% lower at ₹799.85. The company had earlier reported an 8% year-on-year increase in March-quarter consolidated net profit to ₹204.17 crore, while quarterly revenue rose to ₹1,572.22 crore.

From an investor perspective, McGoldrick’s stake reduction is significant because of its size, but institutional absorption provides an important counterbalance. The larger focus will remain on Tata Technologies’ growth in automotive engineering, digital services and next-generation mobility as investors evaluate its earnings trajectory after its blockbuster 2023 market debut.