New Delhi: There is good news for those investing in the stock market. Tata Group, one of the country’s largest industrial houses, is preparing to launch an IPO after 19 years.
Tata Technologies, a subsidiary of Tata Motors, can raise Rs 3,500 to 4,000 crore through this IPO.
The company’s valuation for this issue can range from Rs 16,200 to Rs 20,000 crore.
Tata Group has started working on this IPO. According to sources, the company is working with two advisors.
Along with this, appointing one more advisor is going on. Last month, the board of Tata Motors approved a proposal to sell some stake in Tata Tech through an IPO.
Since then, the unlisted shares of the company have been steadily rising.
However, Tata Group still needs to fix a date for this IPO. The company says that it is waiting for the right opportunity.
This will be the first IPO of the Tata group under the tenure of N Chandrasekaran, the current chairman of Tata Sons.
Tata Technologies is one of the world’s leading companies in the digital, engineering, and technology services sector.
Tata Motors holds a 74.42 percent stake in it. Similarly, an 8.96 percent stake is held by Alpha TC and 4.48 percent by Tata Capital Growth Fund.
IPO came 19 years ago
Earlier, the IPO of any Tata Group company came 19 years ago. Tata Group brought the Tata Consultancy Services (TCS) IPO in 2004.
TCS is the second most valuable company in the country today. Mukesh Ambani’s Reliance Industries,
the second largest tycoon in India and Asia, has a market cap of Rs 1,671,800.07 crore. In comparison, TCS is second with Rs 1,233,082.02 crore.
