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The Tata Technologies has submitted papers with the market regulator Securities and Exchange Board of India (Sebi) to raise capital via an initial public offering (IPO). Existing shareholders and promoters will sell up to 95.71 million shares. It will be a pure offer for sale (OFS) arrangement.
Currently, Tata Motors holds a 74.42 per cent stake in Tata Technologies, while Alpha TC Holdings, a Singapore-based investment firm managed by Tata Capital Advisors, owns 8.96 per cent. Additionally, Tata Capital Growth Fund manages a 4.48 per cent stake in the company.
Chief Executive Officer Warren Harris leads the company. It employs more than 11,000 people across 18 delivery centres around the globe.
In December 2023, the Tata Motors board authorised a partial divestment of its ownership in Tata Tech. Tata Technology largely served Tata Motors, Jaguar Land Rover, and the wider Tata Group. It specialises in automotive, aerospace, industrial heavy machinery and other verticals.
The company is involved in complex engineering programs and expert domain services. Their work includes shared services, component, subsystem and system delivery, full vehicle turnkey projects and software-defined vehicles.
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First Published: Fri, March 10 2023. 11:47 IST
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