The Tata Group led by N Chandrasekaran is all set for another initial public offer (IPO). As per latest reports, the group has started the process to list Tata Technologies through an IPO. For this Tata Tech IPO, the Tata Motors subsidiary is also reportedly working to raise some money for valuation.
According to a report in the Economic Times, the Tata Motors subsidiary is working two advisors to help raise Rs 3,500 crore to Rs 4,000 crore. Through this, the tentative valuation for Tata Tech IPO that the company is aiming is set around Rs 16,200 crore to Rs 20,000 crore.
Before this, the Tata Motors board also approved a partial divestment of its stake in Tata Tech via a public float, as per the report. It adds that at that time, the company had said in an exchange filing that the IPO would come “at an opportune time, subject to market conditions, applicable approvals, regulatory clearances.”
Just like other companies of the Tata Group, the Tata Tech IPO is also much talked about. The company is an engineering design and technology services company, but caters to the automotive, aerospace and others. The company also believes in the convergence of digital technology and traditional engineering to develop products.
However, it must be noted that the final details on the Tata Tech IPO will only come after the company releases an official statement.