Tata Motors Ltd mulls IPO of Tata Technologies Ltd

The IPO Committee [duly constituted by the Board of Directors of Tata Motors Limited (the "Company")], at its meeting held today, i.e., on December 12, 2022 has accorded its in-principle approval to explore the possibility of partial divestment of the Company's investment in Tata Technologies Limited ["TTL"], a subsidiary of the Company, through an IPO route at an opportune time, subject to market conditions, applicable approvals, regulatory clearances (including observations from the Securities and Exchange Board of India) and certain other considerations.

Shares of Tata Motors Limited was last trading in BSE at Rs. 414.10 as compared to the previous close of Rs. 413.35. The total number of shares traded during the day was 551123 in over 17308 trades.

The stock hit an intraday high of Rs. 416.95 and intraday low of 408.00. The net turnover during the day was Rs. 228031190.00.

Source : Equity Bulls

Keywords

TataMotors INE155A01022 FundRaising StakeSale TataTechnologies IPO