Tata Motors to raise Rs. 1,600cr through Tata Tech IPO
Tata Motors Limited has revealed plans to sell a 9.9% stake in Tata Technologies, a company gearing up for an initial public offering (IPO), for Rs. 1,613.7 crore. The stake will be bought by TPG Rise Climate SF Pte Ltd, a climate-focused private equity fund, and the Ratan Tata Endowment Foundation (RTEF). The transaction is scheduled to conclude by October 27, according to the company's official statement.
Stake sale distribution
TPG is set to acquire a 9% stake in Tata Technologies, while RTEF will grab the remaining 0.9%. In exchange for the sale of its stake to TPG, Tata Motors will receive Rs. 1,467 crore. RTEF will pay Rs. 146.7 crore.
Tata Technologies is preparing for an upcoming IPO
Tata Technologies is getting ready for its IPO, marking the first such offering from Tata Group in nearly two decades. The IPO involves the sale of up to 9.57 crore equity shares, representing 23.6% of the company's paid-up share capital. This strategy aims to capitalize on market opportunities, raise funds for future growth initiatives, and potentially boost its global market presence.
About Tata Technologies
As a leading global engineering services company, Tata Technologies boasts a strong market position, providing a wide range of product development and digital solutions to various clients. With its core expertise in the automotive sector, the company has broadened its reach to serve clients across industries such as aerospace, transportation, and heavy machinery.
