Tata AutoComp Plans $169M IPO

Tata AutoComp Systemsis seeking to raise around $169.3 million in an initial public offering (IPO),The Wall Street Journalreports. TheTata Groupcompany, which will launch its offering in July, intends to use the proceeds to expand its operations and cut debt. Following the initial share sale, the Tata group will hold a 60% stake in the company.

After the IPO, Tata AutoComp’s shares will also be sold in the open market by Tata group companies, includingTata Motors,Tata Sons,Tata IndustriesandTata Cap斜体字,帮助the group raise $79 million.JM Financial Consultants,Tata Capital MarketsandJP Morgan Indiaare advising the automobile-parts maker on the sale.

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