Tata Technologies
Company type | PublicSubsidiary |
---|---|
ISIN | INE142M01025 |
Founded | 1989 |
Headquarters | Pune,Maharashtra,India |
Key people | Warren Harris (MD & CEO)[1] |
Services | |
Revenue | ₹5,233 crore(US$630 million) (FY24)[5] |
₹932 crore(US$110 million) (FY24)[5] | |
₹727 crore(US$87 million) (FY24)[5] | |
Number of employees | 11,000 (2023) |
Parent | Tata Motors(53.39%)[6] |
Website | www |
Tata Technologies Limitedis an Indianmultinationaltechnology companyengaged inproduct engineering,that provides services to automotive and aerospaceoriginal equipment manufacturersas well as industrial machinery companies.[7][8]It is a subsidiary ofTata Motors.[9]
Tata Technologies has its headquarters inPuneand regional headquarters in the United States (Detroit, Michigan). As of 2023, the company has a combined global workforce of more than 11,000 employees across its 18 delivery centres in India, North America, Europe and the Asia-Pacific region.[10][11]
History
[edit]Tata Technologies was founded in 1989, as theautomotive designunit ofTata Motors.[12]It was hived off as a separate company in 1994, with Tata Motors continuing to hold amajority stakeand be its biggest client.[13]
Tata Technologies Inc acquired INCAT International, a UK-and US-based automotive and aerospace engineering company, in August 2005 for £53.4 million.[14]
In 2011, Tata Technologies raised₹141 crore (US$30 million) by selling 13% stake toTata CapitalandAlpha TC Holdings.[15]
In April 2013, Tata Technologies acquired Cambric Corporation, an American engineering services company, for $32.5 million.[16]
In May 2017, Tata Technologies acquired 100% stake in Swedish automotive design and product engineering company, Escenda Engineering AB.[17]
In 2017, in an effort to reduce Tata Motors' debt, theTata Groupannounced that it would sell a 43% stake in Tata Technologies to private equity firmWarburg Pincusfor $360 million and cease to be the controlling shareholder in the company.[18]However, the deal was called off in 2018.[19]
In November 2023, Tata Technologies launched its book-builtinitial public offering(IPO) selling shares worth₹3,042 crore(US$360 million), making it Tata Group's first public offering in nearly two decades.[20]Its shares began trading onNSEandBSEon 30 November 2023.[21]
References
[edit]- ^"Tata Tech eyes acquisitions, 69% growth to nearly $800 mn by 2025".Business Standard.10 June 2022.Retrieved11 May2023.
- ^Gopalan, Krishna (22 May 2009)."Tata Tech eyes $1b revenue in seven years: Patrick McGoldrick".The Economic Times.Retrieved11 May2023.
- ^"Tata Tech looking for buys up to $50 m".The Hindu Businessline.25 March 2014.Retrieved11 May2023.
- ^"Tata Technologies to hire 400 people by March 2012".The Economic Times.26 June 2011.Retrieved11 May2023.
- ^abc"29th Annual Report 2022-23"(PDF).Tata Technologies.Retrieved4 May2024.
- ^Agarwal, Nikhil (22 November 2023)."Tata Tech IPO: Tata Motors to take home Rs 2,300 crore against Rs 34 crore investment".The Economic Times.Retrieved23 November2023.
- ^Srivastava, Moulishree (26 March 2014)."Tata Technologies plans to open more centres in India".mint.Retrieved11 May2023.
- ^Kalesh, Baiju; Shah, Sneha (7 April 2015)."Tata Motors and Tata Capital are looking to sell their 90% stake in Tata Technologies".The Economic Times.Retrieved11 May2023.
- ^Baggonkar, Swaraj (16 June 2022)."Tata Technologies to hire more amid talent crunch".The Hindu Businessline.Retrieved11 May2023.
- ^"Tata Motors arm Tata Technologies files draft IPO papers with Sebi".Business Today.10 March 2023.Retrieved11 May2023.
- ^Shinde Nadhe, Shivani (20 September 2014)."Tata Technologies: Acquisitions key for $1-bn revenue target".Business Standard.Retrieved4 July2023.
- ^"Tata Tech eyes $250m buys to hit $1bn sales".The Times of India.23 February 2015.Retrieved11 May2023.
- ^"PEs vie for $520 million Tata Tech stake".The Times of India.22 April 2015.Retrieved11 May2023.
- ^"Tatas to acquire INCAT International".Rediff.18 August 2005.Retrieved21 January2013.
- ^"Tata Tech sells 13% stake for Rs 141 cr to Alpha TC, TCGF".The Economic Times.3 May 2011.Retrieved11 May2023.
- ^"Tata Technologies to acquire US-based firm Cambric for $32.5 million".The Economic Times.26 April 2013.Retrieved11 May2023.
- ^"Tata Technologies acquires Swedish Escenda Engineering".Economic Times.Retrieved2 December2023.
- ^Ghoshal, Devjyot (19 June 2017)."Tata Technologies: One of the best-kept secrets of the Tata Group is leaving the mothership".Quartz.Retrieved11 May2023.
- ^Susmit, Sneh (5 February 2018)."Warburg Pincus, Tata Motors call off $360 million stake sale in Tata Technologies".mint.Retrieved11 May2023.
- ^Sen, Meghna (22 November 2023)."Tata Technologies IPO opens: Should you bet on the Tata group's first IPO in 20 years".CNBC TV18.
- ^"Tata Technologies makes bumper D-st debut; lists at 140% premium at Rs 1,200".Business Today.30 November 2023.Retrieved2 December2023.
External links
[edit]- Tata Group subsidiaries
- Engineering companies of India
- Manufacturing companies based in Pune
- Manufacturing companies established in 1989
- 1989 establishments in Maharashtra
- Indian companies established in 1989
- Companies listed on the National Stock Exchange of India
- Companies listed on the Bombay Stock Exchange
- 2023 initial public offerings