Tata Motors gives green signal for stake sale in subsidiary Tata Tech via IPO


 

Tata Motors on December 12 stated that it had approved the partial divestment of its equity shares in subsidiary Tata Technologies via an initial public offer ( IPO).

On July 8, 2022, Moneycontrol was the first to report the listing plans of Tata Technologies, a global product engineering and digital services company, on the back of accelerated demand in the electric vehicles and the aviation segment.

Since TCS in 2004, no company from the Tata Group has made a debut on the domestic bourses in the past 18 years.

Tata Autocomp Systems shelved a $260 mn IPO and earlier this month, Tata Play ( earlier called Tata Sky) filed for a confidential pre-filing of offer documents.

“We wish to inform you that the IPO Committee [duly constituted by the Board of Directors of Tata Motors Limited , at its meeting held today, i.e., on December 12, 2022 has accorded its in-principle approval to explore the possibility of partial divestment of the Company’s investment in Tata Technologies Limited , a subsidiary of the Company, through an IPO route at an opportune time, subject to market conditions, applicable approvals, regulatory clearances (including observations from the Securities and Exchange Board of India) and certain other considerations,” said the stock exchange disclosure from Tata Motors.

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