Tata IPO: Tata Group, one of India’s largest conglomerates, is preparing for an IPO after 19 years. According to the most recent report, Tata Technologies has begun work on the IPO. According to a recent report by ET, the company intends to collect Rs 4,000 crore through the initial public offering.
According to initial reports, Tata Tech is collaborating on the IPO with two advisors. But according to the most recent information, the business appears to be in contact with a number of merchant bankers as it tries to determine the timing and other details of the IPO.
Tata Technologies’ largest shareholder, at 74.42 percent, is Tata Motors. In December 2022, it had announced plans to partially sell its stock holding in Tata Tech through an initial public offering. The IPO Committee gave it in-principle approval for the divestiture action.
According to the exchange filing, the Tata Tech initial public offering (IPO) will be dependent on market circumstances, necessary permissions, and regulatory clearances. According to the media reports, this will also take into account SEBI’s (the Securities and Exchange Board of India) findings as well as a few other factors.
The global engineering and product development digital services division of the Tata Group is called Tata Tech. The business provides its services to sectors like automotive, heavy industry, and aerospace. Tata Tech brought in $473.5 million during FY22. In 1989, the business was established as a division of Tata Motors.
The global engineering and product development digital services division of the Tata Group is called Tata Tech. The business provides its services to sectors like automotive, heavy industry, and aerospace. Tata Tech brought in $473.5 million during FY22. In 1989, the business was established as a division of Tata Motors.
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