Tata Motors on Monday said that company board has given in-principal approval for partial disinvestment in its subsidiary Tata Technologies via IPO route.
In a meeting held on Monday, the company board decided to explore partial disinvestment of its investment in Tata Technologies, a global product engineering and digital services company.
“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,” the compnay said in its regulatory filing
“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 filing added.
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