TATA Technologies IPO: Engineering Research & Development Services company to hit capital market to raise ~INR 2,890 crores through public issue

TATA Technologies is into Engineering Services Engineering Research & Development Services and is looking raise funds through Offer for Sale

TATA Technologies to raise Fresh Issue aggregating up to Rs crores and an Offer for Sale up to 95,708,984 Equity Shares through public issue IPO

TATA Technologies IPO Update:

Tata Technologies Limited IPO: New Delhi based TATA Technologies Limited established in the year 1994 and is into Engineering Services - Engineering Research & Development Services sector.

Company is promoted by TATA Technologies is a part of Tata Group, which has been recognized as the most valuable brand in India by Brand Finance, a leading international brand valuation agency (Source: Brand Finance India 100 2022 report). Company is promoted by Tata Motors Limited. As a subsidiary of Tata Motors Limited (“TML”), we benefit from long-term relationships with both TML and JLR. . Pre-Offer Promoter and Promoter group stake in the company is 74.69%.

Tata Technologies Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 3,043 Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.

Initial Public Offer comprises of Offer for Sale of up to 95,708,984 Equity Shares JM Financial, Citigroup Global Markets India, BofA Securities India have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.

Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 475 to Rs 500 with lot size of 30 shares and in multiples thereof. Objects of the issue is Achieve the benefits of listing the Equity Shares on the Stock Exchange, carry out the Offer for Sale of up to 95,708,984Equity Shares by the Selling Shareholders.

IPO Dates:

IPO will open on November 22, 2023 and close on November 22, 2023. Tentative date of listing on stock exchanges is December 05, 2023

Want to know more details about the IPO, please visit here Tata Technologies Limited

Source: SEBI, BSE, NSE, DRHP, TATA Technologies, Industry Data

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