Tata Autocomp drops $245m IPO plan

Auto parts maker Tata Autocomp Systems has withdrawn its sale document to raise about USD 245 million through an initial public offering of shares due to poor market conditions, said a person familiar with the matter.

September 06, 2011 / 17:59 IST

Auto parts maker Tata Autocomp Systems has withdrawn its sale document to raise about USD 245 million through an initial public offering of shares due to poor market conditions, said a person familiar with the matter.

Tata Autocomp Systems, part of the USD 68 billion diversified Tata group, had announced plans for the IPO in June.

first published: Sep 6, 2011 07:00 am

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