After a long period of 18 years, the IPO of Tata Group is to come out once again. Another subsidiary of this esteemed group is likely to get listed. This time, Tata technologies, a global product engineering and digital services subsidiary of Tata Motors, is going to launch its IPO. The bank has deployed bankers for IPO (Initial Public Offering) as well.
When Tata Technologies goes public, it would be the second unit of Tata Group following Tata Consultancy Services, India’s Biggest Software Service exporter. As per reports, Tata Motors has nominated Citigroup to analyse alternatives for public issues.
As per an ET report, Tata Motors owns 72.48% shares in Tata technology as of 31 March 2022. While Alpha TC Holdings holds an 8.96% stake and Tata Capital Growth Fund owns a 4.48% stake. Other stakeholders are Tata Motors Finance, Tata Enterprises Overseas, Zedra Corporate Services and Patrick Raymon McGoldrick. Also read – LIC IPO: Key Things To Know About The Highest IPO In India
In the last fiscal year, the company witnessed a big leap of 48% in revenues to Rs 3, 530 crores, while profit increased by 83% to Rs 437 Crore. Tata technologies employ a headcount of 9300 worldwide and provide services to clients in the Asia Pacific Region, Europe and North America.
The company has established 18 delivery centres across the world in four segments including digital enterprise solutions, engineering, research and development services, iProducts offerings and value-added reselling. According to an ET report, Tata Sky is another company from the Tata group that is willing to go public and launch its IPO to give an exit to investors like Disney.