BENGALURU, Nov 16 (Reuters) – India’s Tata Technologies set a price range of 475 to 500 rupees per share for its initial public offering (IPO), according to a newspaper advertisement on Thursday.
The IPO, which is Tata Group’s first in nearly two decades, will involve an offer for sale of up to 60.9 million shares from existing shareholders, including Tata Motors (TAMO.NS).
The offer will open to anchor investors on November 21st, while retail investors can submit offers between November 22nd and 24th.
Reuters reported last week that Tata Technologies was in talks with Morgan Stanley Investment Management, Blackrock and some U.S. hedge funds to invest in its $2.5 billion initial public offering.
Reporting by Rama Venkat in Bengaluru; Edited by Sohini Goswami
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