The pricing range for Tata Technologies' eagerly expected initial public offering (IPO) is set at Rs 475–500 per equity share. The public can subscribe to this issue starting on 22 November and it will end on 24 November.
Tata Technologies is a top global provider of engineering services, providing original equipment manufacturers (OEMs) with digital solutions and product development. Concept design, vehicle architecture, body and chassis engineering, electrical and electronics systems, and diagnostics are among the services provided by the company. Tata technologies team comprises more than 11,000 workers are distributed among 18 international delivery locations.
The book-building IPO is a full offer for sale (OFS), with promoter Tata Motors and other selling shareholders taking home all profits from the sale.
Its parent company Tata Motors will sell 4.62 crore shares under the OFS, Tata Capital Growth Fund would forfeit 48 lakh shares, and Alpha TC Holdings will dispose 97.1 lakh shares.
6.08 crore equity shares are currently being issued, down from 9.57 crore shares previously. The business submitted its initial public offering (IPO) documents to Sebi in March of this year, and the regulator gave its clearance in June. Bids may be placed for a minimum of thirty equity shares, and if more are desired, in multiples of thirty equity shares. An estimated Rs 2,890 crore to Rs 3,042 crore is the issue size.
Tata Technologies has set aside 10 per cent of the offer for qualifying shareholders of Tata Motors. Tata Tech's latest valuation stood at approximately $2 billion or Rs 16,300 crore after TPG Climate acquired a 9 percent stake in the company.