Tata Technologies IPO: Tata Technologies, a global engineering solutions provider, is gearing up for a significant move as it opens its initial public offering (IPO) for subscription on November 22, 2023. The subscription window is set to close on November 24, 2023.
Key Highlights
- Opening and Closing Dates: November 22–November 24, 2023
- Price Band: ₹855-865 per share.
- Fundraising target: ₹958 crore.
- Offer for Sale Contributors: Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund.
Tata Technologies IPO Details
The IPO details include an issue size of ₹958 crore, a price band of ₹855-865 per share, and a lot size of 14 shares. Noteworthy reservations are set at 35% for retail investors, 60% for qualified institutional buyers (QIBs), and 5% for employees.
Use of Proceeds
The funds raised from the IPO will fuel Tata Technologies’ ambitious expansion plans. These include the establishment of new engineering centers, a broader global footprint, and substantial investments in research and development.
About Tata Technologies
Tata Technologies stands as a prominent global engineering solutions provider, serving the automotive, aerospace, and industrial manufacturing sectors. With over 8,000 employees spread across 50 delivery centers in 18 countries, the company has a formidable global presence.
Analysts’ Expectations
Analysts are optimistic about the Tata Technologies IPO, citing the company’s robust track record of growth and profitability. Positioned to capitalize on the increasing demand for engineering services in the global automotive and aerospace industries, the IPO is anticipated to be a resounding success.
Conclusion
The Tata Technologies IPO marks a pivotal moment in the Indian capital markets. As a key player in the engineering services industry, the company is poised to attract substantial investor interest, underscoring its significance in the market.
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FAQs
- What are the opening and closing dates for Tata Technologies IPO subscriptions?
- The subscription window is open from November 22 to November 24, 2023.
- What is the price band set for the IPO shares?
- The price band for Tata Technologies IPO shares is ₹855-865.
- What is the targeted fundraising amount for Tata Technologies through the IPO?
- The company aims to raise ₹958 crore through the IPO.
- Who are the major contributors to the offer for sale in the IPO?
- Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund are major contributors to the offer for sale.
- What are the reservations for retail investors, QIBs, and employees in the IPO?
- Reservations are set at 35% for retail investors, 60% for QIBs, and 5% for employees in the Tata Technologies IPO.