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The Initial Public Offering (IPO) of Tata Technologies Ltd will open for subscription for the public investors on November 22 and close on November 24, 2023. This will be the first Tata Group IPO in nearly two decades.
The IPO is an offer for sale of upto 60,850,278 equity shares for cash comprising of offer for upto 46,275,00 equity shares by Tata Motors, upto 9,716,853 equity shares by Alpha TC Holdings Pte. Ltd and upto 4,858,425 equity shares by Tata Capital Growth Fund I, each representing 11.41 per cent, 2.40 per cent and 1.20 per cent respectively of the paid up equity share capital of Tata Technologies Limited.
“The IPO, inter alia, provides a reservation of upto 6,085,027 equity shares i.e., 10 per cent of the Offer, for subscription by eligible shareholders of Tata Motor. The IPO will open for subscription by the public on Wednesday, November 22, 2023 and shall close on Friday, November 24, 2023,” Tata Motors said in a stock exchange filing.
Price band of the IPO is yet to be determined.
Tata Technologies is an engineering and product development services company that provides engineering solutions and services to various industries such as aerospace, automotive, industrial machinery, and consumer goods.
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