Tata Motors is in talks with Singapore’s GIC for stake sale in Tata Technologies.
Tata Motors is looking to raise about $400-$500 million from a 40% stake sale. Tata Motors along with its subsidiary holds about 70% stake in Tata Technologies, while some other Tata group companies, including Tata Capital, hold about 15.47%.
In June, reports indicated that the Tata Group could list Tata Technologies with plans to raise Rs 1400 crore through an initial public offering (IPO).
Tata Technologies also has offices in the US, India, and the UK. Founded in 1989, the company caters mainly to manufacturing clients in the automotive, aerospace and other sectors.