Tata Motors’ board considering partial disinvestment in Tata Technologies, details here
FirstpostTata Technologies is a global product engineering and digital services firm. Tata Motors stated that it will announce all material developments regarding the IPO, as and when needed Tata Motors stated on Monday that its board has given in-principle approval for disinvestment of partial stake in its subsidiary, Tata Technologies, via an Initial Public Offering. In 2018, Tata Motors called off a deal for selling about 43 percent stake in Tata Technologies to private equity firm Warburg Pincus for $360 million. According to Business Today, the 2022 fiscal annual report showed that rising sales at Tata Technologies caused a 46 percent growth in the revenue of Tata Motors from other operations. The company focuses on four main verticals, namely automotive, aerospace, industrials, and industrial machinery through these offerings: Digital Enterprise Solutions, including offerings in Connected Enterprise IT and Product Lifecycle Management services Engineering, Research, and Development services Tata Technologies has 9,000 employees globally.