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Tata Group considering spinoff of battery business Agratas

Livemint

Livemint · 1y ago

Tata Group considering spinoff of battery business Agratas

Tata Group is reportedly considering spinning off its battery business, Agratas Energy Storage Solutions Pvt, as an independent unit. The move would enable the battery business to raise funds and potentially go public in Mumbai. Agratas, which designs and manufactures batteries for the automotive and energy sectors, has factories in India and the UK. The potential listing could value Agratas between $5 billion and $10 billion. Tata Motors is also exploring similar spinoff plans for its EV business.

Related News

Tata mulls battery business spinoff; to expand EV, renewable energy segments

Livemint

Livemint · 1y ago

Tata mulls battery business spinoff; to expand EV, renewable energy segments

Tata Group is considering spinning off its battery business, Agratas Energy Storage Solutions, as an independent unit. This move aims to raise funds and potentially take the battery business public in Mumbai. Agratas designs and manufactures batteries for the automotive and energy sectors, with Tata Motors and Jaguar Land Rover as its anchor customers. Tata Motors is also exploring a spinoff for its electric vehicle (EV) business in the future. The valuation of Agratas could reach $5 to $10 billion depending on its growth and market sentiment.

India's Tata mulls sale of Voltas home appliances business

Reuters · 1y ago

India's Tata mulls sale of Voltas home appliances business

India's Tata Group is reportedly considering selling the home appliances business of Voltas, in which it holds a nearly 30% stake. The conglomerate anticipates challenges in scaling up the business in a competitive market. It is still early in the considerations and Tata has not yet decided if the sale will include Voltas' consumer durables local joint venture, Voltbek Home Appliances. Financial details of the potential deal have not been disclosed. Voltas saw its shares drop almost 2% following the news.

Tata Group considers topping up another $1 billion for super-app arm

Economic Times

Economic Times · 1y ago

Tata Group considers topping up another $1 billion for super-app arm

Tata Group is considering investing an additional $1 billion in its super app arm. The move comes as the company aims to expand its digital presence and compete with other players in the market. The investment will help Tata Group strengthen its position in the digital space and offer a wide range of services to its customers.

Tata Trusts to Tata Sons: Try all to stay private, consider exit for SP Group

Livemint

Livemint · 29d ago

Tata Trusts to Tata Sons: Try all to stay private, consider exit for SP Group

Tata Trusts has urged Tata Sons, led by chairman Natarajan Chandrasekaran, to remain a private entity despite the looming deadline for potential public listing. Tata Trusts, holding a 65.9% stake, has shown an openness to allowing the Shapoorji Pallonji Group, the largest minority shareholder, to exit. This directive highlights Tata Trusts' strategic preference for continued private control of Tata Sons while considering financial restructuring options.

Disney to sell 30% Tata Play stake to Tata Group; transaction valued at $1 bn

Livemint

Livemint · 1y ago

Disney to sell 30% Tata Play stake to Tata Group; transaction valued at $1 bn

Walt Disney has sold its minority stake in Tata Play, a subscription television broadcaster, to the Tata Group. The deal values Tata Play at approximately $1 billion. This move comes after Tata Group bought the 29.8% stake from Disney, giving them full control of the platform. Tata Play provides pay television and OTT video streaming services and has 23 million connections across India. The Tata Group views Tata Play as a crucial consumer-facing business in the media and entertainment sector. The company had filed for an IPO in 2022 but has yet to go public.

Tata Digital stitching ‘value fashion’ plan under its Cliq brand

Economic Times

Economic Times · 1y ago

Tata Digital, the ecommerce arm of the Tata Group, is looking to strengthen its value fashion offering on its platform Tata Cliq to compete with larger players like Flipkart, Amazon India, and Reliance Ajio. While Tata Cliq has a mass-affluent positioning, it is in talks with various brands to enhance its value-for-money offerings. The company is considering partnerships with global and Indian brands to match the breadth of offerings from its competitors. Tata Group's value fashion chain, Zudio, will not be onboarded on Tata Digital's super app Neu at present.

Chairing Tata: How RNT set the leadership benchmark for his successors

Livemint

Livemint · 10m ago

Chairing Tata: How RNT set the leadership benchmark for his successors

- The Tata group has been a cornerstone of Indian industry for over a century, with leaders such as J.R.D. Tata, Ratan Tata, and N. Chandrasekaran leaving a lasting impact on its trajectory. - J.R.D. Tata's 53-year tenure as chairman shaped the foundation and culture of the Tata group, while Ratan Tata and N. Chandrasekaran adapted to the challenges of their time. - Ratan Tata played a significant role in consolidating and strengthening the business empire, asserting authority over powerful leaders within the group. - Under Ratan Tata's leadership, the Tata group expanded its market reach globally through strategic acquisitions, including Tetley, Corus, and Jaguar Land Rover. - Cyrus Mistry, as Ratan Tata's successor, aimed to fix perceived flaws within the group, but his tenure was cut short due to conflicts and disagreements with Ratan Tata. - N. Chandrasekaran, known for his role in the success of Tata Consultancy Services, took on the challenge of continuing the group's progress while embracing technological advancements and addressing legacy concerns.

Tata Digital appoints MobiKwik's Mukul Saxena as its CBO

IndianStartupNews

IndianStartupNews · 1y ago

Tata Digital appoints MobiKwik's Mukul Saxena as its CBO

Tata Digital has appointed Mukul Saxena as its Chief Business Officer (CBO). Saxena joins Tata Digital from Mobikwik and will be responsible for leading the product, P&L, and new initiatives in the fintech business of the company. Tata Digital, the ecommerce arm of Tata Group, has seen a significant increase in revenue for FY23, reaching Rs 204.35 crore. However, it also experienced a loss of Rs 1,370 crore on a standalone basis.

Tata Motors looks beyond group to source EV batteries

Livemint

Livemint · 1y ago

Tata Motors looks beyond group to source EV batteries

Tata Motors will procure battery packs for its electric vehicles (EVs) from Octillion Power Systems in China, ending the practice of solely purchasing them from Tata AutoComp Systems. The decision comes as Tata Motors attempts to address performance issues and diversify its supply and technology base. The Curvv SUV will be the first Tata vehicle to use an external battery supplier since the launch of the Nexon EV in 2020. Octillion has installed a 2 GWh battery pack capacity in India and will provide battery packs for the 45 kWh variant of the Curvv EV.

Tata Capital taps offshore investor to ramp up microfinance business

VCCircle

VCCircle · 1y ago

Tata Capital taps offshore investor to ramp up microfinance business

Tata Capital, the financial services arm of the Tata Group, is raising $125 million from an overseas investor to expand its microfinance business. The Mumbai-based company aims to strengthen its position in the sector after merging two of its subsidiaries.

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