The board of directors of Tata Motors has approved a partial divestment of the firm in Tata Technologies, its fully owned subsidiary, via an initial public offering (IPO). The subsidiary provides product engineering as well as digital services. As required by the SEBI LODR Regulations and other applicable legislation, the company will make additional notifications about any developments related to the IPO as they occur.
According to the company’s 2022 annual report, Tata Motors owns 74.42% of Tata Technologies. For over five years, the Tata group’s flagship has been intent on departing the technology services business as part of a bigger plan of abandoning non-core companies.
Tata Technologies, founded in 1989, provides technological services in the automotive, industrial machinery, aerospace, and related engineering and manufacturing verticals.