Tata Tech IPO: After 2 decades a Tata group firm will test public markets

Engineering services company files DRHP; seeks to raise Rs 4,000 cr

Tata Motors subsidiary Tata Technologies is heading for an initial public offering (IPO), almost two decades after IT bellwether Tata Consultancy Services became the last Tata group firm to test Indian public markets in 2004.

Pune-based Tata Technologies' IPO consists of an offer for sale up to 95.71 million shares, representing up to 23.60 per cent of its paid-up share capital.

The offer for sale comprises up to 81.13 million equity shares by Tata Motors, 9.71 million shares by Alpha TC Holdings Pte. Ltd. and up to 4.86 million shares by Tata Capital Growth Fund I, each representing up to 20 per cent, 2.40 per cent and 1.20