Tata Technologies IPO: Even without listing in the stock market, the stock of Tata Technologies is going up tremendously. In the unlisted market, the stock of Tata Technologies has jumped 30 percent in the last 3 weeks. Ever since Tata Motors has approved the IPO of Tata Technologies, since then the stock continues to rise in the unlisted market.
The share of Tata Technologies is trading around Rs 7300 in the unlisted market, which was earlier trading around Rs 5500. Recently, the company has also announced to give one bonus share in lieu of each share, for which January 16, 2023 has been fixed as the record date. The company has also announced to split one share into 5 shares.
Tata Motors has informed the stock exchange that the company is considering disinvestment in Tata Technologies. Tata Technologies is a subsidiary company of Tata Motors. Tata Technology, associated with product engineering and digital services, has started taking the necessary initial steps to bring the IPO. If Tata Motors’ plan is successful, this will be the first IPO brought by the Tata group after the TCS IPO in 2004.
Let us tell you that about 18 years ago, the IPO of the country’s largest IT company Tata Consultancy Services (TCS) came. Ratan Tata used to be the chairman of the group then. But this will be the first IPO of any Tata group company after N Chandrasekaran became the chairman of Tata Sons in 2017.
According to the 2022 annual report of Tata Motors, Tata Motors holds 74 per cent stake in Tata Technologies. In 2018, Tata Motors was in the process of selling a 43 per cent stake in Tata Technologies to Warburg Pincus for $360 million, but the decision was later shelved. Looking at the financial results of Tata Technologies, the company’s revenue was Rs 3529.6 crore in 2021-22. On which there was an operative profit of Rs 645.6 crore and a profit of Rs 437 crore. The focus of Tata Technologies is in 4 verticals which include Automotive, Aerospace, Industrial Machinery and Industrial.