Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Topics
Tata Technologies | Indian markets | Jaguar Land Rover
Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Tata Technologies Ltd. has sought approval from India’s markets regulator for an initial public offering in which its parent carmaker Tata Motors Ltd. and other investors will sell as many as 95.7 million shares.
The initial sale in the engineering unit of luxury carmaker Jaguar Land Rover’s owner will comprise a 23.6% stake, according to a filing. Tata Motors is selling as many as 81.1 million shares, or a 20% stake. Alpha TC Holdings Pte. and and Tata Capital Growth Fund I are the other investors selling shares in the IPO.
Tata Technologies, which counts Airbus SE, McLaren, Honda Motor Co. and Ford Motor Co. among its clients apart from Tata Motors and JLR, isn’t selling any new shares in the IPO. JM Financial Ltd., Citigroup Global Markets India Pvt. and BofA Securities India Ltd. will manage the share sale.
This is the second IPO proposed by the Tata Group since it listed Tata Consultancy Services Ltd. in 2004. Satellite television operator Tata Play Ltd. submitted a pre-filed draft red herring prospectus in December.
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Fri, March 10 2023. 10:50 IST
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Author: Ricardo Goulart ... Read more
Author: Gerardine Lucero  ... Read more
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more