The Tata Group makes its first offer following an almost two-decade hiatus. Tata Technologies Limited’s IPO debuted on the Indian main market today, and the book build issue is still out for bids till November 24, 2023.
The company intends to use a public offering at the highest price range to raise INR 3,042.51 crore. The promoter and investors’ sole offering for sale (OFS) is included in the issue. On November 21, the company raised INR 791 crore from 67 investors via the anchor book. Reportedly, international participants in the anchor book included Goldman Sachs, Government Pension Fund Global, BNP Paribas Funds, Prudential Assurance Company, and HSBC Global.
Prior to accepting the offer, be aware of the following important points.
According to investorgain.com, shares of the stationary brand Tata Technologies are currently offered in the grey market for a premium of INR 355.
- Date of Tata Technologies IPO: Bidding is already live and will stay open until November 24, 2023, or this Friday.
- The pricing of Tata Technologies‘ IPO is established at between INR 475 and INR 500 for each equity share.
- Tata Technologies Initial Public Offering Size: The stationary company hopes to raise INR 3,042.51 crore through its IPO. The nature of the public issue is exclusively OFS (offer for sale).
- Investment limit for the Tata Technologies IPO: Since there are 30 firm shares in each lot and the price range for each equity share is INR 475 to INR 500, a retail investor must apply for the Tata Technologies IPO with a minimum of INR15,000 (INR 500 x 30).
- Tata Technologies IPO Allotment Date: Following the T+3 timeline, the shares for the IPO are anticipated to be finalized by November 27, 2023, at the latest.
Global engineering services provider Tata Technologies, a division of Tata Motors, provides turnkey and digital solutions as well as product development to OEMs and tier 1 suppliers worldwide. With a primary focus on the automobile industry, Tata Tech is a pure-play manufacturing engineering, research, and development (ER&D) firm.
