Tata Motors to partially sell stake in subsidiary Tata Tech via IPO

Tata Motors’ board has approved a partial divestment of the company in Tata Technologies, its wholly owned subsidiary, through an initial public offering (IPO), the parent firm said in an exchange filing. The subsidiary is into product engineering and digital services.

“We wish to inform you that the IPO committee (duly constituted by the board of directors of Tata Motors) at its meeting held on December 12, 2022, has accorded its in-principle approval to explore the possibility of partial divestment of the company’s investment in Tata Technologies, a subsidiary of the company, through an IPO route at an opportune time,” it said in the filing.

The IPO would be the Tata group’s first since it listed Tata Consultancy Services in 2004, if this offering comes before Tata Play’s.