India’s Tata Group is set to embark on its second public offering in nearly two decades, following the trailblazing success of TCS’ 2002 IPO.

Tata Group, a prominent Indian business conglomerate, is on track to list its next company, Tata Technologies, in the near future, following the successful IPO of Tata Consultancy Services (TCS) in 2004. The company’s engineering, procurement, and construction (EPC) division, Tata Projects, has expressed interest in listing within the next 12-18 months, with a goal of becoming “fit” financially, generating cash of 4-5% on its revenue. As of March 31, 2024, Tata Sons held a 57.31% stake in Tata Projects, making it the company’s largest shareholder. According to its CEO, the company is expecting a significant increase in order intake, net profit, and revenue in the current fiscal year. With an outstanding order book of over Rs 40,000 crore, Tata Projects is poised for growth and expects to complete the Noida International Airport project next year.