Tata Technologies, a subsidiary of Tata Motors, aims to grow its aerospace business, which, along with the transport and construction heavy machinery (TCHM) segment, contributes 10 per cent to the total business.
The company has 90 per cent of its business from the automotive sector, specialising in product development for Original Equipment Manufacturers (OEM) and new energy vehicle companies.
In the aerospace sector, the company is working with manufacturers to convert old aircraft to cargo.
“The opportunity to grow in the aerospace sector is huge. The enrollment with Airbus is a source of excitement for us because the order book visibility is growing. Air India is our customer and we believe we can further grow the partnership,” said Savita Balachandran, Chief Financial Officer, Tata Technologies.
Tata Technologies for Air India undertook work on reverse engineering. The company also works with aircraft manufacturers to reduce development time by leveraging its digital capabilities.
Acquired by the Tata Group in 1996, the company was incorporated as Core Software Systems Pvt Ltd in 1994. Tata Technologies has 12,451 employees with a revenue of ₹2,523 crore in 6MFY24.
The company’s initial public offering (IPO) is set at a price range of ₹475- ₹500 per equity share of face value of ₹2 each. The IPO offering will open on November 22 and will be closed on November 24.
“India will be the innovation and global hub for the manufacturing segment. We provide engineering and digital solutions to global manufacturing clients as the company covers the entire automotive chain along with aerospace and heavy machinery,” said Warren Harris, CEO and MD of Tata Technologies.