Tata Motors has received in-principle approval to explore the possibility of partial divestment of the company's investment in Tata Technologies (TTL), a subsidiary of the Company, through initial public offering (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.
The company will make further announcements of all material developments relating to IPO, as and when required, as per SEBI LODR Regulations and other applicable laws. The IPO Committee (duly constituted by the Board of Directors of Tata Motors), at its meeting held on December 12, 2022 accorded its in-principle approval for the same.
Tata Technologies is a global engineering and product development digital services firm. It offers services to industries across automotive, aerospace, industrial heavy machinery and others.
