Last Updated: November 14, 2023, 12:32 IST
Tata Technologies’ IPO: India’s Tata Technologies’ preliminary public providing will open for subscription on November 22, its mum or dad Tata Motors mentioned late Monday, in what would be the first Tata Group IPO in almost 20 years.
This would be the first IPO from Tata Group because the profitable launch of Tata Consultancy Services (TCS) in 2004.
“We now wish to inform you that the Company has been informed by Tata Technologies Limited that it has filed today, the RHP dated Monday, November 13, 2023, with the Registrar of Companies, Maharashtra in Pune. This IPO is an Offer For Sale (“Offer”) of as much as 60,850,278 fairness shares for money (“Equity Shares”), comprising of a suggestion for (a) as much as 46,275,000 Equity Shares by the Company; (b) as much as 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd.; and (c) as much as 4,858,425 Equity Shares by Tata Capital Growth Fund I, every representing as much as 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 corporate knowledgeable in an change submitting on November 13.
Tata Technologies Limited, a subsidiary of Tata Motors Limited had filed a draft purple herring prospectus (“DRHP”) dated March 9, 2023, with the Securities and Exchange Board of India for an preliminary public providing (“IPO”).
The IPO closes on November 24.
On November 2, Tata Motors reported a consolidated web revenue of Rs 3,783 crore for the September quarter, using on sturdy efficiency by its British arm Jaguar Land Rover. This is the fourth successive quarter of constructive outcomes for the homegrown auto main.
