India's vast conglomerate Tata has said it will increase spending on telecoms and may even enter the world of biotechnology.
Tata wants to expand its telecoms business
A leading Tata director J.J. Irani said cash raised from a flotation at Tata Consultancy Services would be primarily invested in telecoms.
"The most important one is telecoms... We may go into any new area, biotech for example" Mr Irani said.
The IPO at India's largest firm will be India's biggest sell-off.
Room to expand
TCS registered papers for the IPO with India's stock market regulators last week to sell 13% of its shares.
Mr Irani said some 50 to 60bn rupees ($1.1-1.3bn) would probably be raised from the sale.
Tata's telecoms business currently
loses out to the Bharti group and
"We believe we can be one of the biggest in India (in telecoms)," Mr Irani said.
Founded by Jamshedji Tata in the 19th Century, the Tata group dominates India's steel sector, makes cars and watches and is involved in tea and fertilisers.