Tata house aiming another IPO.
Housed as a subsidiary of Tata Motors, the company closed $1 billion round of funding from US private equity major TPG in January 2023. The fundraise was as part of the company’s plans to infuse $2 billion of funding by 2026.
“Listing of TPEML is to ensure that the Tata Group is able to monetise its investments in the electric vehicles business rather than to garner funds from the market”
The business climate for electric vehicles remains robust and the overall stock market sentiments is positive about EV segment, the group may aim at listing the EV business in the next 12–18 months, that is in FY25 or latest by FY26.
About Tata EV
Incorporated in 2021, Tata Passenger Electric Mobility Limited is among the newest business additions at the Tata Group and the first to be substantially backed by private equity investments. With over 53,000 electric cars sold so far in FY24 and 73 per cent market share in the electric vehicles space, TPEML holds a leadership position in its segment.
TPEML’s valuations are pegged at $9.5–10 billion. Accounting for 12 per cent of Tata Motors’ passenger vehicles portfolio, the EV business is just shade away from overtaking the Tata Motors’ diesel vehicles unit.
The other financial information if not available freely, starting this thread to get the information at a single place before the company comes with an IPO.