India's largest conglomerate is reportedly looking at more public issues to fund new businesses.
Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries are some of the firms Tata Group may be looking at to tap the capital markets in the next three years, according to an Economic Times report.
BT could not independently verify the report.
The recent sale of a 0.65% stake in the group's flagship TCS to raise Rs 9,300 crore, the report claims, could be pointing to this pivot.
The report quoting a company executive said the "decisions will be thought out" and will most likely involve businesses "seeded over 20 or 25 years ago are now in a growth phase and in shape to be monetised".
In November last year, Tata Motors subsidiary Tata Technologies was listed, the group's first initial public offering in almost two decades after Tata Consultancy Services went public in 2004.
Tata Motors is also looking to split its passenger and commercial vehicles businesses into two listed companies with an aim to unlock value of its electric vehicles and the Jaguar Land Rover luxury car making unit. The commercial vehicles business — manufacturing trucks and buses — and its related investments will be housed in one entity, the company had said in a filing. The second company will include passenger cars, electric vehicles, Jaguar Land Rover and its related investments.
The spinoff proposal, which will be placed before the board for approval in the coming months, won’t have any adverse impact on the company’s employees, customers or business partners, it added. All shareholders of Tata Motors will “continue to have the identical shareholding in both the listed entities,” the filing said.