Tata Technologies to launch IPO on Nov 22, sets price band at Rs 475-500 per share

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Tata Technologies, a part of Indian conglomerate Tata Group, is gearing up for its Initial Public Offering (IPO) on November 22, 2023.

The company has set the price band for its shares at Rs 475 to Rs 500, with each share having a face value of RS 2. This IPO, notable for being the first from the Tata Group in nearly two decades since Tata Consultancy Services (TCS), is scheduled to close on November 24.

Tata Tech IPO details 

The IPO is entirely an Offer For Sale (OFS), aiming to raise Rs 3,042.51 crore at the upper price band. Tata Motors plans to offload 4.62 crore shares, while Alpha TC Holdings and Tata Capital Growth Fund will sell 97.17 lakh and 49 lakh shares, respectively.

The company has reserved a portion of the shares for its employees and Tata Motors shareholders. Notably, the company will not receive any proceeds from this issue, as all earnings will go to the selling shareholders.

What does Tata Tech do?

Tata Technologies, a global engineering services company, specializes in product development and digital solutions, primarily focusing on the automotive industry.

The company has shown impressive financial performance, with a 42.8% year-on-year growth in consolidated net profit for the year ended March 2023. Its revenue from operations also saw a 25% rise during the same period.

When will Tata Technologies be listed on bourses?

The shares of Tata Technologies are expected to be listed on the BSE and NSE on December 5. The company’s future revenue prospects include a focus on new energy vehicle companies, although this comes with its own set of uncertainties.

The IPO’s book-running lead managers are JM Financial, Citigroup Global Markets India, and BofA Securities India, with Link Intime India acting as the registrar.

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Tata Technologies to launch IPO on Nov 22, sets price band at Rs 475-500 per share

Tata Technologies, a part of Indian conglomerate Tata Group, is gearing up for its Initial Public Offering (IPO) on November 22, 2023.

The company has set the price band for its shares at Rs 475 to Rs 500, with each share having a face value of RS 2. This IPO, notable for being the first from the Tata Group in nearly two decades since Tata Consultancy Services (TCS), is scheduled to close on November 24.

Tata Tech IPO details 

The IPO is entirely an Offer For Sale (OFS), aiming to raise Rs 3,042.51 crore at the upper price band. Tata Motors plans to offload 4.62 crore shares, while Alpha TC Holdings and Tata Capital Growth Fund will sell 97.17 lakh and 49 lakh shares, respectively.

The company has reserved a portion of the shares for its employees and Tata Motors shareholders. Notably, the company will not receive any proceeds from this issue, as all earnings will go to the selling shareholders.

What does Tata Tech do?

Tata Technologies, a global engineering services company, specializes in product development and digital solutions, primarily focusing on the automotive industry.

The company has shown impressive financial performance, with a 42.8% year-on-year growth in consolidated net profit for the year ended March 2023. Its revenue from operations also saw a 25% rise during the same period.

When will Tata Technologies be listed on bourses?

The shares of Tata Technologies are expected to be listed on the BSE and NSE on December 5. The company’s future revenue prospects include a focus on new energy vehicle companies, although this comes with its own set of uncertainties.

The IPO’s book-running lead managers are JM Financial, Citigroup Global Markets India, and BofA Securities India, with Link Intime India acting as the registrar.

Join our new WhatsApp Channel for the latest startup news updates

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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