Tata Technologies IPO: 10 Things to Know

Issue Date: The Tata Technologies IPO will open for subscription on November 22, 2023, and close on November 24, 2023.

Price Band: The price band for the IPO has been set at ₹475 to ₹500 per share

Lot Size: The lot size for the IPO is 30 equity shares.

 Issue Size: The Tata Technologies IPO is expected to raise ₹3,042.51 crore at the upper price band.

Offer for Sale (OFS): The IPO will consist entirely of an OFS of 60,850,278 equity shares.

 Promoter and Investor Selling: Promoter Tata Motors will offload 4.62 crore equity shares worth ₹2,314 crore in the OFS. Investors Alpha TC Holdings Pte Ltd will be selling 97.17 lakh shares worth ₹486 crore, and Tata Capital Growth Fund I will sell 49 lakh shares worth ₹243 crore.

Reservations: The company has reserved 20.28 lakh shares for its employees and 60.85 lakh shares for the shareholders of Tata Motors.

Listing: The listing of Tata Technologies shares on the BSE and NSE is expected on December 5, 2023.

Objectives of the IPO: The proceeds from the IPO will be used to fund the company's expansion plans, including capital expenditure for new product development and geographic expansion.

Company Financials: Tata Technologies had a revenue of ₹3,052 crore and a net profit of ₹407 crore in the nine-month period ended December 2022.