Tata Technologies IPO: The Tata group has stepped up preparations for the listing of group company Tata Technologies on the stock exchange. The Tata group is busy in executing the process of Tata Tech’s IPO. The company can raise Rs 3500 to 4000 crore from the market through IPO. To bring the IPO, the company has appointed two advisors and preparations are on to appoint the third one.
In December, parent company Tata Motors had approved the sale of stake in Tata Technologies through an IPO. In a regulatory filing, Tata Motors told the exchange that Tata Tech’s IPO will be brought at the right time, better environment, after getting all the approvals and regulatory clearances. Tata Motors holds 74.42 per cent stake in Tata Technologies. Apart from this, Singapore-based investment company Alpha TC Holdings Pte Ltd, managed by Tata Capital Advisors, holds an 8.96 per cent stake, while Tata Capital Growth holds a 4.48 per cent stake. Apart from this, Tata Motors Finance, Tata Enterprises Overseas, Ratan Tata and S Ramadorai also have shares in the company.
Tata Technologies, established in 1989, is an engineering design and technology services company with presence in the automotive, aerospace, industrial machinery and allied sectors. The company has a total of 9300 employees across Europe, North America and Asia-Pacific. By the way, before the IPO comes, there is a tremendous boom in the stock of Tata Technologies without the listing. There has been a huge jump in the shares of Tata Technologies in the unlisted market. Ever since Tata Motors has approved the IPO of Tata Technologies, since then the stock continues to rise in the unlisted market. Looking at the financial results of Tata Technologies, the company’s revenue was Rs 3529.6 crore in 2021-22. On which there was an operative profit of Rs 645.6 crore and a profit of Rs 437 crore.
Tata group has not brought any IPO in the market for a long time. The IPO of the country’s largest IT company Tata Consultancy Services (TCS) came 18 years ago. Ratan Tata used to be the chairman of the group then. But after N Chandrasekaran became the chairman of Tata Sons, for the first time the IPO of the Tata group company will come.
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