"Tata Technologies has developed significant engineering capabilities over the years. The partial divestment is part of Tata Motors' plan to strategically monetize part of the value created while also inducting a valuable partner, together with whom the Company can excel in its next phase of growth,"said C. Ramakrishnan, Group CFO, Tata Motors.

Ramakrishnan added, "We look forward to partnering with Warburg Pincus and achieving greater heights for the Company and all its stakeholders."

"Tata Technologies is widely acknowledged for its superior service offerings and its industry leading engineering capabilities. The Company has demonstrated the ability to scale accounts in a competitive industry by becoming embedded in the manufacturing and product development process of its customers. We are delighted to be partnering with the Tata Group to support the continued growth and development of the Company.

"We look forward to backing the strong management team at Tata Technologies and leveraging Warburg Pincus' global network and prior experience in the engineering services space to help grow the business, organically and inorganically, and create value for all stakeholders", said Vishal Mahadevia, Managing Director and Co-Head of Warburg Pincus India.

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