Tata Group is considering a potential spinoff of its battery business, according to people familiar with the matter, as the Indian conglomerate expands its foray in the country’s renewable-energy and electric-vehicle sectors.
Tata is in the early stage of discussions about eventually breaking out Agratas Energy Storage Solutions Pvt as an independent unit, the people said, asking not to be identified because the matter is private. Such a structure would allow the battery business to raise funds and go public in Mumbai at a later stage, the people said.
