The Tata group on Thursday kicked off the initial public offering (IPO) of Tata Technologies, the first from the group’s stable after Tata Consultancy Services Ltd went public in 2004.
A successful IPO of Tata Technologies may encourage the conglomerate to take more group companies public, two investment bankers said on the condition of anonymity.
Both Tata Sons and Tata Capital were classified by the Reserve Bank of India (RBI) in September 2022 as “upper-layer" NBFCs, which requires them to go public three years from the date of classification. Tata Capital managing director Rajiv Sabharwal said the company will comply with the RBI categorization, a Mint report said in September. The company is considering a 2025 IPO, the report said.
In November 2022, multiple news reports said Tata Play had made a confidential filing for an IPO, though the company has now abandoned it after firming up plans to buy back investor Temasek’s stake in the entity. Tata Projects is seen as another future listing candidate and may reverse-list through a listed Tata Group entity, a senior executive previously said.
Diese Geschichte stammt aus der November 17, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der November 17, 2023-Ausgabe von Mint Mumbai.
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