Systems Ltd, an auto parts maker, has filed for an initial public
offering in addition to a fresh issue in order to raise around Rs 750
crore ($167.4 million).
As per the red hearing prospectus, shareholding
companies, Tata Motors, Tata Industries and Tata Capital Ltd, and Tata
Sons, will together sell nearly 35.63 million shares in the company.
The
company, part of the diversified Tata conglomerate, has appointed Tata
Capital Markets Ltd, JM Financial Consultants Pvt Ltd, and JP Morgan
India Pvt Ltd as managers for the sale.The issue will comprise of around
25% of the fully diluted post issue paid up capital of the firm.