Tata Group Firm Tata Technologies Likely To Launch IPO In April-June Quarter Of 2023
Its been 18 years since the Tata group came out with an IPO. The last IPO of a Tata group company was of Tata Consultancy Services (TCS) in the year 2004. Tata Technologies' IPO is expected to roll it out as early as first quarter of FY 2023-24, i.e. the April- June quarter of next year.
It's been 18 years since the Tata group came out with an IPO. The last IPO of a Tata group company was of Tata Consultancy Services (TCS) in the year 2004.
And, now, Tata Motors¡¯ global product engineering, design and digital services subsidiary, Tata Technologies is planning to launch an IPO. Nearly five months after the reports of Tata Technologies¡¯ IPO came out this year, the Tata group company has begun preparing for the IPO, and is expected to roll it out as early as the April- June quarter of next year, i.e. the first quarter of Financial Year 2023-24.
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Tata technologies' IPO will be Tata Group's first IPO after 2004, unless Tata Play's IPO comes out before that.
Tata Play (formerly Tata Sky) is expected to file a confidential pre-filing of offer documents for IPO, possibly this month, as per ET. Tata Play's joint venture partners Tata Group and The Walt Disney Company India had already agreed to the IPO a few months ago.
Details Of Tata Technologies' IPO
Tata Technologies may file the DRHP (draft red herring prospectus) with market regulator SEBI by the next quarter and is in talks with merchant bankers over the preparation of the IPO. The IPO structure is likely to be a mix of Offer For Sale (OFS) and fresh shares. The Tata group company may offer a minimum of 10% of equity stake via the IPO.
At present, Tata Motors is Tata Technologies¡¯ biggest shareholder with 72.48% of the stake, whereas Alpha TC Holdings owns 8.96% and the remaining is held by other Tata entities, the report mentioned.
Currently, Warren Harris is the CEO and Managing Director at Tata Technologies. He joined the firm as COO in 2009 and was elevated to the role of Chief Executive Officer in 2014.
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Also Read: When Tata Motors Came Out With A Nano Car Worth Rs 22 Crore
More About The Company
Tata Technologies Limited (TTL) is a global product engineering and digital services company founded in the year 1989. It focuses on fulfilling its mission of helping the world drive, fly, build, and farm by enabling global OEMs and their ecosystem of partners across the automotive, industrial machinery, aerospace, and adjacent verticals engineer, manufacture, and realize better products, as well as help them drive efficiencies in their businesses.
Tata Technologies has over 7,900 employees with major offices in 17 countries and over 5,000 clients. As per its website, it was initially founded as a business unit of Tata Motors, but in 1994 it spun off as an independent business unit, headquartered in Singapore. And it later began commencing operations in India in 1996.
Also Read: Tata Steel May Exit UK If ?1.5 Billion Funding Denied
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