According to news reports, Tata Group is thinking of spinning off its battery division as it continues to expand into the renewable energy and electric vehicle markets in India.
According to various reports, Tata is currently in the early stages of talks about eventually separating Agratas Energy Storage Solutions Pvt as an independent entity. According to the people, a structure like this would enable the battery company to obtain capital and go public in Mumbai at a later date.
Depending on its growth and the state of the market, a listing might put Agratas’ value between $5 billion and $10 billion, they claimed. Tata’s spokesperson opted not to respond.
According to their website, Agratas has facilities in the UK and India where they design and manufacture batteries for the automotive and energy sectors. Its principal clients are Jaguar Land Rover Automotive Plc and Tata Motors Ltd.
Last month, Tata Motors reclaimed its top spot as the most valuable automaker in India because to its leadership in EVs and sport utility vehicles. The business exceeded projections for its most recent quarter’s earnings after JLR reported its highest profit in seven years.
According to a January Bloomberg News story, Agratas is in discussions with several banks to secure a green loan worth up to $500 million to support the development of its factories.
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