After nearly two decades, Tata Group is preparing to launch the IPO of Tata Technologies, aiming to raise up to Rs 5,000 crore. The last Tata Group IPO was Tata Consultancy Services in 2004. Tata Technologies, a Tata Motors subsidiary, was established in 1996 to explore product engineering and manufacturing IT opportunities.
The IPO involves selling 95.7 million shares, about 23.6% of its current capital. Tata Motors plans to sell up to 81.1 million shares, while the rest will provide an exit for Singapore's Alpha TC Holdings. Both Tata Motors and Jaguar Land Rover are significant clients, contributing 33% of consolidated income in FY23. The IPO of Tata Play, a satellite TV broadcaster, has been postponed due to reported losses in FY23.