Tata Technologies IPO to open for subscription on November 22. Details here

Tata Technologies IPO: After a gap of almost two decades, Tata Group is going to launch its initial public offering (IPO) in the primary market. The company plans to float its public issue on November 22 as an offer for sale (IPO). This will be the first IPO from the Tata Group since the successful launch of Tata Consultancy Services (TCS) in 2004.

“We now wish to inform you that Tata Technologies Limited has informed the Company that it has today filed the RHP dated Monday, November 13, 2023 with the Registrar of Companies, Maharashtra in Pune. This IPO is an Offer For Sale (“Offer”) of up to 60,850,278 equity shares for cash (“Equity Shares”), consisting of an offer for (a) up to 46,275,000 Equity Shares by the Company; (b) up to 9,716,853 Equity Shares in Alpha TC Holdings Pte. Ltd; and (c) up to 4,858,425 of Equity Share Capital by Tata Capital Growth Fund I, each representing up to 11.41%, 2.40%, and 1.20%, respectively of the paid-up Equity Share Capital of Tata Technologies Limited,” added the company indicated in the exchange filing statement on November 13.

Tata Technologies Limited, a subsidiary of Tata Motors Limited, has filed a draft red herring prospectus (“DRHP”) dated March 9, 2023, with the Securities and Exchange Board of India for an initial public offering (“IPO”). .

This IPO provides, inter alia, for the reservation of up to 6,085,027 Ordinary Shares, ie. 10% of the Offer, to be subscribed by eligible shareholders of TML, ie. Individuals and HUFs who are public equity shareholders (including shareholders holding Ordinary Shares and ‘A’ Ordinary Shares in TML and including such persons who are not eligible to invest in the Offer under laws, rules, regulations and applicable guidelines) as on the date of filing of the RHP, ie. Monday, November 13, 2023, he added.

Tata Technologies IPO opening on this date

This IPO will be open for public subscription on Wednesday, November 22, 2023, and will close on Friday, November 24, 2023.

On November 2, Tata Motors reported a consolidated net profit of 3,783 crore for the September quarter, riding on the strong performance of its British arm Jaguar Land Rover. This is the fourth consecutive quarter of positive results for the domestic auto major.

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Updated: 14 November 2023, 07:22 AM IST

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