Tata Technologies, a unit of Indian carmaker Tata Motors, filed for an initial public offering (IPO) on Thursday, according to draft papers submitted to the market regulator.
However, Tata Tech, which provides engineering and product development digital services, said it will not offer any of the 95.7 million shares, representing around 23.6% of its paid-up share capital, to be sold in the IPO.
Instead, Tata Motors, which has a 74.69% stake in Tata Tech, will sell up to 81.1 million sha...
India`s Tata Technologies, a unit of Tata Motors, files for IPO