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tata-buildingMUMBAI: Indian auto parts maker Tata Autocomp Systems has withdrawn its sale document to raise about $245 million through an initial public offering of shares due to poor market conditions, said a person familiar with the matter.

Tata Autocomp Systems, part of the $68 billion diversified Tata group, had announced plans for the IPO in June.

Copyright Reuters, 2011

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