Tata Motors to sell stake in subsidiary Tata Tech through IPO

13 Dec 2022 , 11:05 AM

On December 12, Tata Motors’ board has approved the partial disinvestment in Tata Technologies through IPO; the company makes an announcement and also said in an exchange filing. The subsidiary is into product engineering and digital services.

The company will makes announcement on further developments related to the IPO plan as per SEBI LODR Regulations and other applicable law.

Tata Motors hold around 74% stake in Tata Technologies, according to the former’s 2022 annual report. Tata technologies led by CEO Warren Harris provides design and engineering services, product development and IT service management to original equipment manufacturers of automotive and aerospace and their suppliers.

The company has reported 47% growth in revenue to Rs 3,530 crore for FY 2021-22, and a strong 74% increase in profit after tax to Rs 437 crore.

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