Since 2004, no firm in the Tata group has gone public. That is, it has been 18 years since a Tata group firm went public.
Another firm of Tata Group, one of the major corporate organizations in the country, can now be listed on the stock market. Tata Group’s Tata Sky, which has now changed its name to Tata Play, is set to go public. By the end of the month, SEBI can get the draft documents for the IPO of Tata Play, the satellite television company owned by the Tata Group.
The rumors were out in the month of July that Tata Play’s (previously Tata Sky) initial public offering may happen shortly. In actuality, a lot of investment firms, including Disney, wish to liquidate their holding in Tata Sky. Investors Temasek and Tata Capital want to sell a portion of their ownership position in the firm during the projected IPO, which is a possibility.
As an 80:20 joint venture between Tata Sons and Network Digital Distribution Services (NDDS), Tata Sky began operating in 2004. NDDS is part of Rupert Murdoch’s 21st Century Fox. Disney purchased Fox in 2019; as a result, Tata Sky now has 41.49 percent ownership from Tata Sons and a 9.8 percent share from Disney through TS Investments Ltd.
However, since 2004, no firm in the Tata group has gone public. That is, it has been 18 years since a Tata group firm went public. The IPO of the country’s largest IT industry, Tata Consultancy Services (TCS), took place in 2004, approximately 18 years ago. TCS raised Rs 5500 crore through its initial public offering (IPO).