Tata Motors’ Shares Hits 52-Week High After Tata Tech Sets IPO Price Band; Details – News18

Tata Motors’ shares hit a 52-week excessive of Rs 678.55 on BSE on Thursday (November 16) after it stated that it could promote its 11.41 per cent fairness shares price Rs 4.62 crore, and in addition on a day when a Tata group company-Tata Tech- declared its IPO band value.

The inventory of car firm surpassed its earlier excessive of Rs 677.90 touched on October 16, 2023. At the higher finish of the worth band, the scale of the Tata Technologies’ IPO will stand at Rs 3,042.5 crore, whereas the corporate will likely be valued at Rs 20,283 crore.

The IPO has been issued beneath provide on the market scheme.

This is after almost twenty years when a Tata group firm is developing with an IPO. The final Tata group firm to launch an IPO was Tata Consultancies, which launched an IPO in 2004.

Tata Tech was final valued at round $2 billion (Rs 16,300 crore), when TPG Climate picked up a few 9% stake within the firm.

For the 9-month interval ended December 2022, the corporate clocked 15% yr-on-yr (YoY) development in income at Rs 3,052 crore. The service section income contributed 88% of the full income. The firm’s web revenue throughout the identical interval stood at Rs 407 crore. Over FY 2021-23, its income grew at a compound annual development fee (CAGR) of 30%, resulting in a 46% EBITDA CAGR. PAT for a similar interval elevated at a CAGR of 61.5%.

JM Financial, Citigroup Global Markets India, and BofA Securities India are the e-book-operating lead managers to the IPO. The title of the registrar is Link Intime India Private Limited.

Bids may be made for no less than 30 fairness shares and in multiples of 30 fairness shares thereafter. The minimal bid quantity for retail buyers is Rs 15,000 whereas Rs 210,000 for non-institutional buyers (NIIs). As for the certified institutional consumers, it’s Rs 1,005,000.

The worker quota stands at 2,028,342 fairness shares.