Tata Sons is gearing up for the formal initiation of selling a minority stake in Tata Digital Pvt. Ltd (TDPL), the entity behind the Tata Neu super app. Confidential sources reveal that the conglomerate aims to potentially raise around $1 billion from global private equity funds through this strategic move.
Currently, discussions are in the preliminary stages with select bulge-bracket private equity funds. The formal process is anticipated to kick off in the coming days. The plan includes presenting a proposal to the board once the valuation process concludes, and a tentative list of potential investors is finalized.
Established in 2019, TDPL is a subsidiary of Tata Sons with a mission to create a consolidated e-commerce platform known as ‘Tata Neu.’ This platform brings together diverse businesses from Tata companies, catering to the varied needs of consumers on a unified platform. An insider mentioned, “If things remain on track, a deal can be expected before March this year.”