Tata Play, Tata Group’s entertainment arm formerly known as Tata Sky, is reportedly on track to become one of the first Indian businesses to submit a private pre-filing of offer documents for an IPO.
Tata Play intends to raise between INR 2,000 and INR 2,5000 Cr through the IPO, according to a report from ET. The Walt Disney Company and other stakeholders would be able to leave the business through the public offering. It was first introduced in 2004 as the 80:20 joint venture of Tata Sons and 21st Century Fox under the name Tata Sky. Tata Play reported a net profit of INR 68.6 Cr for FY22 and had 18.3 Mn active pay subscribers as of March 31.