The Tata Group, led by N Chandrasekaran, will soon make a new initial public offering (IPO). The most recent reports state that the group has started the process of listing Tata Technologies through an IPO. It is rumored that the Tata Motors business is looking to raise some money for the value of this Tata Tech IPO.
According to a source, the Tata Motors division is working with two experts to fund a project that would cost between Rs 3,500 crore and Rs 4,000 crore. Based on this, the estimated business valuation for the Tata Tech IPO is set at between Rs 16,200 crore and Rs 20,000 crore.
The board of Tata Motors earlier authorized a partial public selling of Tata Motors’ stake in Tata Tech, the paper claims. It goes on to say that the company had said in an exchange filing at the time that the IPO will take place “at a suitable time, subject to market circumstances, applicable approvals, and regulatory clearances.”
Similar to other companies in the Tata Group, the IPO of Tata Tech is also getting a lot of interest. The company serves the automotive and aerospace sectors in addition to offering engineering design and technology services. The organization also supports the integration of traditional engineering and digital technology in the production of commodities.
It must be emphasized that the precise details about the Tata Tech IPO won’t be made public until the company makes a formal announcement.