Tata planning next big IPO of its electric cars division

The Tata Group is planning a $1-2 billion (Rs 8000- Rs 16,000 crore) IPO of its electric vehicle subsidiary Tata Passenger Electric Mobility (TPEM) in the next 12-18 months to monetize its EV investments, as per reports. TPEM is India's largest EV maker selling models like Nexon EV and Tiago EV.