Summary
Tata Motors Share News: On Friday, the company’s shares increased by 4.73 percent and closed at Rs 667.
TATA MOTORS has announced the sale of stake in subsidiary TATA TECH. Will sell 9.9% stake in TATA TECH for Rs 1614 crore. TPG will sell this part to RISE CLIMATE.
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What does Tata Technology do – Talking about the business of Tata Tech, this company does IT consultancy, SAP services and maintenance. Apart from this, this company also works in providing networking solutions. Also provides services like CAD/CAM engineering and design consultancy.
The issue of Tata Technologies, a subsidiary of Tata Motors, has received approval from SEBI in the month of June. At present no date and price band of the IPO has been announced. According to the documents filed with SEBI, the company will offer more than 95 crore shares through offer for sale. No new shares will be issued in the issue. Shares will be listed on both BSE and NSE. 35 percent of the issue will be reserved for retail investors.
Tata Technologies, a subsidiary of Tata Motors, is planning to issue about 9.5 crore shares in exchange for 23.6% stake through IPO. In this, the parent company i.e. Tata Motors will sell 20% stake i.e. 8.1 crore shares through OFS. Apart from this, in this IPO, Alpha TC Holding will also buy 97.1 lakh shares in exchange for 2.4% stake and Tata Capital Growth Fund I will also sell 48.58 lakh shares in exchange for 1.2% stake. Will sell. According to the company’s annual report, Tata Motors will hold 74.42% stake in Tata Technologies by 2022.