Tata Motors board gives approval for partial divestment of Tata Technologies through IPO

its in-principle approval to explore the possibility of partial divestment of the company’s investment in Tata Technologies, a subsidiary of the company, through an IPO route at an opportune time."

The company will make further announcements of all material developments relating to IPO, as and when required, as per SEBI Regulations and other applicable laws, it said.

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.

As per information available on the company's website, Tata Technologies had clocked a revenue of $473.5 million in FY22.

It is a strategic supplier to Airbus and had recently inaugurated its innovation centre in Toulouse, France, as part of its strategy to cater to the product engineering and digital requirements of the global aerospace and defence sector.

In June, Tata Technologies joined the Foxconn-initiated MIH Consortium to promote the development of sustainable mobility solutions and encourage collaboration within the industry. The MIH (Mobility In Harmony Consortium) comprises more than 2,300 members in the field of software, hardware, and services.