India's one of the biggest Automotive companies Tata Motors is looking for partial divestment of its stake in Tata Technologies. The news came as Tata Group files a confidential draft red herring prospectus for Tata Play. After the IPO of TCS in 2004, Tata Group is bringing the IPO for the first time in the last 18 years. "We wish to inform you that the IPO committee (duly constituted by the board of directors of Tata Motors) has accorded its in-principle approval to explore the possibility of partial divestment of the company's investment in Tata Technologies through an IPO route", the company said. For the last few years, Tata Group has been looking to raise funds for Tata Technologies, including the sale of stakes to the private equity company. In 2017, Tata Motors was in unsuccessful talks with American private equity firm Warburg Pincus for the sale of some potential stake. A subsidiary of Tata Motors with 72% stake, Tata Technologies has reported 83% growth in its net profit to 436.9 crores in FY22 as against FY21 which is the best performance so far. While the operating revenue jumped 48% to Rs. 3529.6 crores. In FY22, the company generated a significant part of revenue outside the Tata Group which is a good sign for the Company's future growth. About six years ago, 75% of the business of the Company was dependent on Tata Group. Tata Technologies is also looking to expand in aerospace and industrial machinery. In the next three years, the company is expecting to increase the share of the non-automotive sector to 15-18% from 12-13%. Tata Technologies' unlisted shares are currently offered for Rs. 6000 per share, and the company made Rs. 258 Cr in profit in the first six months of FY23. The predicted total PAT, if we annualize the first six months of FY23 results, is approximately 516 Cr. With 4.2 Cr. outstanding shares, the anticipated EPS for FY23 is Rs. 122. So, currently, it is available at a P/E of 50x . https://unlistedzone.com/shares/tata-technologies-limited-share-price-buy-sell-unlisted-shares-of-tata-technologies/