Tata Tech plans IPO by fiscal-end, the first by Tata group in 18 years

The company is in talks with several banks, including Citibank, to manage the share sale; The last share sale by a Tata firm was in 2004, when TCS floated an IPO

After almost 18 years, a Tata group firm is planning to sell shares to retail investors with Tata Technologies, the profit making arm of Tata Motors, planning to list its shares in the current fiscal and use the proceeds to expand its business to new clients.

Once launched, the initial public offer will be the first from the Tata group since the group holding firm, Tata Consultancy Services listed its shares in 2004. Bankers said the company is in talks with several banks, including Citibank, to manage the share sale. Tata Motors owns 74 per cent in Tata