Tata Technologies’ IPO is expected to take place later this year, as the company filed its preliminary IPO papers with the Securities & Exchange Board of India (SEBI) back in March.
Tata Technologies’ IPO is expected to take place later this year, as the company filed its preliminary IPO papers with the Securities & Exchange Board of India (SEBI) back in March.
Tata Technologies, a subsidiary of the automotive group Tata Motors, is an engineering services company providing product development and turnkey solutions to global Original Equipment Manufacturers (OEMs) and their Tier 1 suppliers.
Tata Technologies, a subsidiary of the automotive group Tata Motors, is an engineering services company providing product development and turnkey solutions to global Original Equipment Manufacturers (OEMs) and their Tier 1 suppliers.
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According to the Draft Red Herring Prospectus (DRHP), Tata Technologies’ initial public offering will be a full sale offer (OFS) in which the existing shareholders, including Tata Motors, Alpha TC Holdings Pte and Tata Capital Growth Fund-I, will divest their shares of the Company.
Tata Motors currently owns a 74.69% stake in the product development company. Meanwhile, Alpha TC Holdings Pte holds a 7.26% stake and Tata Capital Growth Fund a 3.63% stake in Tata Technologies.
Tata Technologies IPO details
The Tata Technologies IPO consists of an OFS of 9.57 crore shares with a par value of ₹Every 2nd promoter Tata Motors will sell up to 8.11 crore shares, Alpha TC Holdings Pte plans to sell up to 97.16 lakh shares while Tata Capital Growth Fund I will sell up to 48.58 lakh shares of the company.
According to DRHP, Tata Motors’ weighted average cost per share is ₹7.40 per share for Alpha TC Holdings Pte. ltd is ₹25.10 per share and for Tata Capital Growth Fund I ₹25.10.
The company has yet to announce the price and dates for the IPO.
Tata Technologies recognizes KPIT Technologies, L&T Technology Services and Tata Elxsi as its listed competitors.
The book-running lead managers for Tata Technologies IPO are JM Financial, Citigroup Global Markets India and Bofa Securities India, while the IPO registrar is Link Intime India.
finance
Tata Technologies reported net income of ₹436.99 crore on total sales of ₹3,578.38 in FY22.
Net income for the April-December fiscal 23 period was ₹407.47 crore and sales for the period were at ₹3,052.30 crores.
Tata Technologies GMP IPO
Tata Technologies IPO GMP or gray market premium is on the horizon ₹80 – ₹82, according to the primary market watchers. This means that Tata Technologies shares were traded ₹80-82 higher than their actual gray market value.
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