Marketing bad company Tata Motors parts system abandoned IPO

According to Reuters, according to sources, given the market environment is not good, subsidiary of the Tata Group and Tata auto components systems limited (Tata AutoComp Systems) has decided to give up to be raised at least $ 245 million IPO. However, sources and did not give more details.

At the end of last year, the Tata Group's 28 listed companies by market capitalisation of $ 68 billion dollars. Tata Motors unit system limited last year to India's market regulator has submitted application for IPO, after the company has appointed JM Financial Consultants Pvt Ltd, Tata Capital Markets Ltd and JP Morgan India Pvt Ltd acted as underwriter of the IPO. Under the plan, besides new share issues, a Tata Motors parts system the company also plans to sell shares of Tata Motors holds. As Tata Motors unit system the company's biggest customer, Tata Motors holds 26% shares.

Fiat, Ford, GM, Volkswagen car manufacturer Tata Motors Parts systems, such as the company's customers, the company's business includes automobile trim, exterior and engine cooling system, battery and so on.

Will appear again on the global economy recession fears foreign investors choose more stable value assets, India companies had been suspended or abandoned IPO plan. India stock market this year poorly, the first half of India Enterprise IPO just US $ 7.1 billion in total, with the same period last year, down 42%. Foreign institutional investors in August to sell India stocks more than US $ 2 billion. India CNI Research believes that at present India market conditions are very bad, despite the reduction in the residual adverse factors in the market, the market will take months to achieve stability. In such cases, India IPO enterprise need to be cautious.

In recent months, the fast-growing India automobile industry cold, July India car sales fell 16%, for 2.5 years the first time since the fall. In 2010, India automobile sales rose 30%. Market expects domestic car sales growth slowed, India automobile parts industry growth will also slow down.Mitsubishi Flip Remote Key Shell 2 Button
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