Product engineering and digital services company Tata Technologies is in discussions with Morgan Stanley Investment Management, Blackrock, and a few US hedge funds to invest in its mega initial public offering.
The $350-375 million IPO will be the first time a Tata Group company is going public in two decades.
According to Reuters, Tata Technologies is in talks with US asset managers Key Square Capital, Ghisallo Capital, and Oaktree Capital apart from Morgan Stanley and Blackrock for possible participation in the deal. These high-profile institutional investors are reportedly interested in the anchor book of the Tata company.
“Big investors are quite excited by the Tata brand, and a profitable company with scale … that’s driving demand,” Reuters quoted a source as saying.
The Tata Group is yet to comment on the report.
The highly anticipated IPO is expected to be launched later this month. According to reports, the IPO is an offer for sale of 95,708,984 equity shares.
Tata Technologies offers services in engineering and design, product lifecycle management, manufacturing, product development, and IT service management to automotive and aerospace original equipment manufacturers as well as industrial machinery companies.
