Tata Motors Passenger Vehicles Ltd.

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 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. 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 Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.