Tata Investment Corporation Ltd shares hit their 5-percent upper limit for the second session on March 28 morning, after reports that the conglomerate planned many initial public offerings (IPOs) over the next two to three years.
According to The Economic Times, companies with potential IPOs include Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing, and Tata Batteries.Moneycontrol was unable to verify the report independently.
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So far this year, Tata Investment has increased its stock price by more than 46 percent.Earlier this month, Tata Group shares rose as investors expected Tata Sons to be floated. On March 7, shares of Tata Motors, Tata Chemicals, Rallis India, Tata Power, Nelco and Tata Investment, surged up to 15 percent as the buzz around Tata Sons’ expected IPO got louder.