TPG - Backed Tata Technologies In Talks With US Funds For IPO Investments

TPG-Backed Tata Technologies In Talk With US Funds For IPO Investments.

Expert Analysis:

• Tata Technologies, part of the Tata Group, is in talks with Morgan Stanley Investment Management, Blackrock, and some US hedge funds for investing in its IPO. The company is being valued at $2.5 billion.

• In its planned $350-375 million IPO, Tata Technologies is holding talks with US asset managers Ghisallo Capital, Oaktree Capital, and Key Square Capital, Blackrock.

• For the nine months ended Dec. 31, 2022, Tata Technologies’ profit grew 23% to 4,074 million rupees ($48.94 million), while its total income grew 15% to 30.5 billion rupees ($366.37 million).

• The IPO will open for subscriptions around Nov. 21.