Skip to main content

No plans to launch Tata Technologies IPO – Cyrus Mistry

Tata Motors is not planning to list its engineering solutions and IT product developing subsidiary Tata Technologies. Tata Technologies IPO could have been a huge value unlocking trigger for Tata Motors. Speaking at the automaker’s annual general meeting, Chairman Cyrus Mistry answered to a query from a shareholder while adding that the focus currently is on turning around Tata Motors’ operations. Tata Motors owns 70.4% equity stake in Tata Technologies.
We have no immediate plans for an initial public offer (IPO) for Tata Technologies. However, we will explore various options in the future
– Cyrus Mistry, Chairman, Tata Motors
Mistry also made clear that there are no plans to list the defense business. The Chairman said the flagship company’s business is going to increase in volatility. “We are all becoming used to unpredictable and dynamic market environments, learning to manage by anticipating customer needs, leveraging strong processes and building competitive product portfolios and networks,” said Mistry.

Earlier, media reports hinted the automaker was looking to bring the IPO of Tata Technologies and raise as much as INR14 billion (INR1,400 crore). Apart from Tata Motors, other investors in Tata Technologies are Mizuho Securities’ Alpha TC (8.7%), Tata Capital, Barclays Wealth Corporate Services, Sheba Properties, Tata Entertainment Overseas and Walbrook Nominees.
Established in 1994 as an in-house engineering solution firm, Tata Technologies has spread its operations beyond its parent and gets more than 30% of its revenues from North America, Europe and the Asia-Pacific region now. Apart from the automotive business which accounts for 65% of its top line, aerospace is also a focus area for Tata Technologies with 12% contribution to revenues. Tata Technologies posted a 3.6% increase in revenues in FY2016 to INR26.8 billion while profits grew 14.3% to INR3.8 billion.
Mistry’s comments make it pretty clear that Tata Technologies IPO is not happening anytime soon. 
Sandip Ginodia , Director 
ALTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES

We deal in over 60 unlisted companies with 15 years of experience .
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated th...
Post a Comment
Read more

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in ...
Post a Comment
Read more

Times Internet posts 24% revenue jump to Rs 1,625 Cr in FY20

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...
Post a Comment
Read more