Tata Group Contemplates About Another IPO In Less Than Two Months After Tata Tech's Mega Listing
Tata Group is coming up with another initial public offering (IPO) in less than two months after their product engineering company, Tata Technologies, raised Rs. 791 from the primary market. Tata Autocomp Systems (TACO), a Tata group-owned auto component manufacturing company founded in 1995, is set to open their shares for public subscription later this year with Tata Sons and Tata Industries Ltd holding, who hold 21% and 79% stakes, respectively, offloading their stakes, Moneycontrol reported quoting officials.
Tata AutoComp Systems Limited provides products and services to Indian and global automotive OEMs as well as Tier 1 suppliers with capabilities in Automotive Interior & Exterior Plastics, Composites, Sheet Metal Stampings as well as Engineering and Supply Chain and through nine joint ventures in partnership with leading companies from the global auto component industry, it manufactures and markets automotive components and systems like engine cooling solutions, automotive batteries, rear view mirrors, command systems, HVAC, exhaust and emission control systems, seating systems, battery packs, battery cooling systems, battery management systems, motors, controllers, integrated drivetrains (Integrated Motor, Inverter, and Reducer), EV chargers, and electronic solutions for passenger and commercial vehicles, as well as suspensions for heavy commercial vehicles.
According to the report, besides Tata Autocomp Systems”s IPO, the Tata group has also planned to launch the IPO of Tata Play (formerly Tata Sky) this year, as well as the IPO of the group”s parent company, Tata Sons, which is expected to be launched next year, i.e., in 2025. Tata Group-backed BigBasket is also eyeing an IPO by 2025.
Tata Technologies Limited (Tata Tech) made a blockbuster debut on Dalal Street on November 30, 2022, as its shares got listed at Rs 1,200, marking a 140 percent premium over its issue price of Rs 500. The stock is still rising, and the analysts have a positive outlook for it, with domestic brokerage JM Financial fixing a target price of Rs 1,360. This implies a potential gain of over 16 percent from the last closing price of Rs 1,170.9.
