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Investing.com -- Tata Capital, the non-banking financial subsidiary of Tata Sons, has declared on Tuesday its plans to launch an initial public offering (IPO).
The move is designed to leverage the current positive market conditions and raise funds for future expansion. This decision comes in the wake of several large-scale listings in India.
The company’s board approved the issuance of up to 230 million new shares. This will be coupled with the offering of some shares currently held by existing shareholders.
As of March 2024, Tata Sons held approximately 93% of Tata Capital’s shares.
The upcoming IPO represents a significant step for the company as it seeks to secure additional capital for growth.
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