๐๐ฐ Upcoming IPO: Tata Passenger Electric Mobility Ltd. ๐ฐ๐
Great news for investors looking to invest in IPOs! The Tata Group is gearing up to launch another IPO. The Tata Group is in the process of listing its electric vehicle business.
According to media reports, Tata Passenger Electric Mobility Ltd.’s IPO is likely to come in the next 12 to 18 months. Through this, the company can raise $1 to $2 billion. TPEML is the country’s largest EV manufacturer. Established in 2021, it is the newest company of the Tata Group. It is the first company of the Tata Group with significant private investment. The company produces the highest-selling cars like Nexon EV and Tiago EV.
Sources say in a report that the Tata Group is preparing for the listing of TPEML. It is a subsidiary of Tata Motors. The company raised $1 billion in funding in January last year. The American private equity fund TPJ was the largest investor. The company plans to invest $2 billion by 2026. The group has not set a date for the IPO, but it could take 12 to 18 months.
TPEML holds a 73% stake in India’s electric vehicle market. The company has sold over 53,000 electric vehicles in the current fiscal year. According to the report, the company is valued at $9.5 billion to $10 billion. Electric vehicles account for only 12% of Tata Motors’ portfolio. However, the company is very close to surpassing its diesel vehicle business.
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