After the successful IPO of Tata Technologies, another Tata group company may soon launch its IPO. As per a report by The Hindu Business Line, Tata Passenger Electric Mobility Limited, a subsidiary of Tata Motors, is expected to go public. This company is known for the Nexon EV and Tiago EV models.
The IPO of the company could be launched in the next 12 to 18 months, aiming to raise $1 to $2 billion. The Tata Group is focused on aggressive growth in the EV sector. It remains uncertain when the IPO will be released, possibly in FY 2025 or 2026. Current market conditions are favorable for electric stocks, with Tata Motors considering a $1 billion investment in Tata Passenger Electric Mobility Limited.
The buzz around Tata Passenger Electric Mobility Limited began with a $1 billion funding from TPG in January 2023. If the company goes public, it could secure significant funds to advance its plans. On Monday, Tata Motors shares were trading at around Rs 940.30.
(Note - This is not an investment advice. Before making any kind of investment, it is necessary to consult an expert in this field.)