Tata Motors Gives In-Principle Approval To Tata Technologies IPO

Tata Motors Ltd. has given its in-principle approval for Tata Technologies Ltd.'s initial public offer.

The IPO committee has accorded its "in-principle approval to explore the possibility of partial divestment of the company’s investment in
Tata Technologies Ltd., a subsidiary of the company, through an IPO route at an opportune time", the company said in an exchange filing.

The public offering is subject to market conditions, applicable approvals, regulatory clearances and other considerations, it said.

The group is gearing up for the initial public offer after a gap of 18 years. Its previous listing, Tata Consultancy Services Ltd., was in 2004.