Published By: Mohammad Haris
Last Updated: November 26, 2023, 14:39 IST
Tata Motors on Saturday mentioned its arm Tata Technologies has finalised the supply value, together with the anchor investor supply value, at Rs 500 per fairness share for its Initial Public Offering (IPO).
The Rs 3,042.5 crore IPO of Tata Technologies, which gives engineering and product growth digital providers, was subscribed 69.43 occasions on the ultimate day of subscription on Friday, pushed by outstanding participation from institutional patrons.
“…Tata Technologies Ltd in consultation with book running lead managers to the IPO, has finalised the offer price, including the anchor investor offer price, at Rs 500 per equity share of face value of Rs 2 each,” Tata Motors mentioned in a regulatory submitting.
The public difficulty had a value band of Rs 475-500 per share.
Accordingly, the scale of the IPO aggregates to Rs 3,042,51 crore comprising a suggestion on the market of 4.63 crore fairness shares by Tata Motors amounting to Rs 2,313.75 crore, 97.17 lakh fairness shares by Alpha TC Holdings Pte Ltd amounting to Rs 485.84 crore and 48.58 lakh fairness shares by Tata Capital Growth Fund I, amounting to Rs 242.92 crore, topic to finalisation of foundation of allotment, the submitting added.
The preliminary share sale of Tata Technologies obtained bids for 3,12,64,91,040 shares towards 4,50,29,207 shares on supply, as per NSE information.
Tata Technologies is the primary firm from the Tata Group to drift an IPO in almost twenty years. Tata Consultancy Services was the final IPO from the group in 2004.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
