Tata Tech Files Application For IPO, Two Subsidiaries To Be Listed

Tata Group may soon end a 19-year IPO drought with not just one but two fresh public issues. Tata Technologies has filed draft papers with SEBI for an IPO by way of pure OFS. The company’s promoter, Tata Motors will offload 81.1 million shares. Tata Capital Growth Fund and Alpha TC Holdings are the other shareholders selling stakes in the company. The total shares to be offloaded through the OFS is 95.7 million. Importantly, this application follows the approval of another Tata Group company IPO – that of Tata Play, last month. These will be the first public issues by Tata since TCS went public in 2004. BTTV’S Sakshi Batra spoke to Rajesh Agarwal of AUM Capital to find out what these opportunities mean for investors.