The IPO, a first for the Tata Group in nearly two decades, comes at a good time for the biggest stakeholder—parent Tata Motors—but does not seem to hold much value for Tata Technologies.
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An independent investigation, in its report, blames the notional recording of profits by the bank in its internal derivatives trades.
While paying heed to the growing concerns of mutual funds around how mandatory investment norms are affecting junior employees, the market regulator has ensured the industry remains accountable to investors.
Some research analysts have announced a closure of operations, fearing higher compliance costs. But it may be too soon to take such a call.