Tata Tech IPO: After 2 decades a Tata group firm will test public markets

Engineering services company files DRHP; seeks to raise Rs 4,000 cr

After almost two decades, a Tata group company is all set to test the Indian public markets. Tata Motors subsidiary Tata Technologies has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). Sources estimated the IPO size at around Rs 4,000 crore.

India’s IT bellwether Tata Consultancy Services (TCS) was the last Tata group firm to go public. TCS came out with its IPO in July 2004 and its shares got listed the following month.

Pune-based Tata Technologies’ proposed IPO will involve secondary sale of up