JLR Owner Tata Seeks to Sell Engineering Unit Stake in India IPO
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Tata Technologies Ltd. has sought approval from India’s markets regulator for an initial public offering in which its parent carmaker Tata Motors Ltd. and other investors will sell as many as 95.7 million shares.
The initial sale in the engineering unit of luxury carmaker Jaguar Land Rover’s owner will comprise a 23.6% stake, according to a filing. Tata Motors is selling as many as 81.1 million shares, or a 20% stake. Alpha TC Holdings Pte. and and Tata Capital Growth Fund I are the other investors selling shares in the IPO.