Tata Motors board approves partial divestment of subsidiary via IPO

The company said that it will make further announcements regarding the IPO as per SEBI LODR Regulations and other applicable laws.

FPJ Web DeskUpdated: Tuesday, December 13, 2022, 03:53 PM IST
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Tata Motors board approves partial divestment of subsidiary via IPO | File

Tata Motors board approved the partial divestment of the equity shares held by Tata Motors in its subsidiary Tata Technologies through initial public offering, the company announced through an exchange filing.

The company said that it will make further announcements regarding the IPO as per SEBI LODR Regulations and other applicable laws.

Tata Motors is a leading global automobile manufacturer of cars, pick-ups, utility vehicles, trucks and buses, which offers an extensive range of integrated, e-mobility solutions.

The company reported consolidated net loss of Rs 944.61 crore in the second quarter of FY23 as against Rs 4,441.57 crore last year. Net sales went up 30.5% to Rs 78,846.92 crore in the same period as compared to Rs 60,435.92 crore last year.

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