Tata Technologies is a global engineering services company that provides services to the automotive, aerospace, and industrial sectors. The company has a strong track record of innovation and is well-positioned to benefit from the growth of the global engineering service market.
Tata Group to launch its first IPO after two decades since 2004 from the listing of Tata consultancy service.
The Initial Public Offering (IPO) of Tata Technology consists of an offer-for-sale (OFS) of up to 6,08,50,278 equity shares with a face value of Rs 2 each to raise a capital of Rs 3,042.51 crore. Its promoter Tata Motors Ltd and other shareholders including Alpha TC Holdings and Tata Capital Growth Fund will participate in the OFS.
The Tata Technologies IPO is scheduled to open for subscription on November 22, 2023, and close on November 24, 2023, for retail investors. The Tata Technologies IPO is expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 5, 2023. The allocation to anchor investors for Tata Technologies’ IPO is set to take place on Tuesday, November 21.
The price band for the Tata Technologies IPO is ₹475 to ₹500 per share. The minimum lot size for the Tata Technologies IPO is 30 shares. This means the investors must apply for at least 30 shares in order to participate in the IPO.
The IPO of Tata Technologies provides reservation of up to 6,085,027 Equity Shares for Tata Motors shareholders. i.e., 10% of subscription Offer, for eligible shareholders before November 13, 2023.
According to the company’s financial report, net revenue increased by 25% from Rs 3,529.57 in FY21-22 to Rs 4,414.18 in FY22-23. Also, their net profit is 43 percent up from Rs 436.97 in FY21-22 to Rs 624.03 in FY22-23.
On Thursday’s early trade, Tata Motor shares witnessed strong buy momentum resulting in the stock surging 2 percent to hit an all-time high of Rs 685.25 due to strong buy momentum.
Written by Sriram KV
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