Tata Technologies to raise Rs 4,000 crore via IPO; Starts work on the same

19 Jan 2023 , 09:26 AM

Tata Technologies, a subsidiary of Tata Group has started the processing to raise funds through initial public offer (IPO). The company is working with two advisors to raise Rs 3500- 4000 crore, valuing it at Rs 16,200 crore–20,000 crore ($2 billion-2.5 billion), as per the reports of Economic Times.

As per reports, the Tata Motors board approved a partial divestment of its stake in Tata Tech through a public float. The parent had said that the IPO will come at an opportune time, subject to market conditions, applicable approvals, regulatory clearances. 

Tata Technologies was founded in the year 1989, is an engineering design and technology services company that caters to the automotive, aerospace, industrial heavy machinery and others. Currently, the company has more than 9,300 employees serving clients across Europe, North America and Asia-Pacific.

It is a global product engineering and digital services company, it helps companies in convergence of digital technology and traditional engineering to develop better products.