Tata Technologies IPO –
In anticipation of Tata Technologies’ imminent initial public offering (IPO), Tata Motors is orchestrating a pivotal move by selling a 9.9% stake to their long-standing partner, TPG Rise Climate. This strategic decision underscores Tata Motors’ commitment to bolstering their financial standing and furthering their de-leveraging agenda.
The transaction is valued at approximately Rs 1,614 crore and is currently in the final stages of closing processes, expected to be concluded within the next two weeks. It’s a significant move set to reshape the landscape in the lead-up to Tata Technologies’ IPO.
A Climate-Focused Partnership:
TPG Rise Climate, the climate investing division of TPG’s $18 billion global impact investment platform, is making waves in the sustainability sector. They concentrate on five critical climate areas, encompassing energy transition, green mobility, sustainable fuels, sustainable molecules, and carbon solutions. Notably, TPG Rise Climate has previously invested a substantial $1 billion in Tata Passenger Electric Mobility and plays a strategic role in Tata Motors’ journey toward electric passenger mobility ventures in India.
Tata Technologies IPO Details:
Tata Technologies, a global engineering services firm and a subsidiary of Tata Motors, is gearing up for its inaugural public offering. The IPO encompasses an offer for sale of 95,708,984 equity shares in exchange for cash. Tata Motors will offload 8.11 crore shares under the Offer for Sale (OFS). Other selling stakeholders include Alpha TC Holdings and Tata Capital Growth.
In a move designed to extend benefits to eligible Tata Motors shareholders, Tata Technologies has set aside a 10% quota in the IPO. Currently, Tata Motors holds a 74.69% stake in the company. While the specific size of the IPO remains undisclosed, it is a development that holds considerable promise in the financial landscape.
Watch this space for further updates as the journey toward Tata Technologies’ IPO unfolds.
