Tata Motors up 1% in weak market as Tata Technologies files DRHP with Sebi

This possible IPO along with the receipt of consideration of EV deal with TPG will support FCF generation from the India business to attain near debt zero in the India business, MOFSL said.

Shares of Tata Motors were up 1 per cent at Rs 437.85 on the BSE in Friday’s intra-day trade in an otherwise weak market after Tata Technologies filed papers with the market regulator for its initial public offering (IPO).

Tata Technologies is a subsidiary of Tata Motors. The company provides services in engineering and design, product lifecycle management, manufacturing, product development, and IT service management to automotive and aerospace original equipment manufacturers and their suppliers.

“Tata Technologies has informed the company that it has filed a draft red herring prospectus (DRHP) dated March 9, 2023 with the Securities