Tata Motors cruising smooth

Tata Motors is buzzing with activity today. And why not! It is after a really, really long time that we are hearing of an IPO coming from the stables of Tata group and that too, the mulch cow of Tata Motors. The last IPO was in July 2004, of TCS and that was at an issue price of Rs.850.

The news is that Tata Motors is planning to list its Jaguar Land Rover (JLR) unit, sadly, not in India but is considering London and New York as possible listing.  This funds raised will go a long way to help development of new models and investments in connected-car technologies and autonomous driving systems. Tata Motors is sitting on gross debt of Rs.78,580 crore as at 31st March 2017.

The Indian listing could come from Tata Technologies, an engineering solutions and IT product developing arm of Tata Motors.

The Tata group comprises close to 100 companies, of which 29 are listed.