Tata Technologies, the IPO will open on November 22 and close on November 24, and the allotment basis will be finalized on November 30. Let's take a look at what was announced.
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| Tata Technologies ipo announced |
What is the shareholder quota for Tata Technologies IPO
Tata Technologies is a leading global engineering services company that provides product development and digital solutions to various industries.
Tata Technology, a part of the Tata Group, will launch its initial public offering (IPO) on November 22. The company has fixed the share issue price on the day of the IPO at Rs 475 to Rs 500 for each equity share of Rs 2 face value.
The Tata Technologies IPO subscription date will begin on Wednesday, November 22 and end on November 24. The allotment to investors for Tata Technologies IPO is scheduled to take place on Tuesday, November 21.
Tentatively, the allotment of shares based on Tata Technologies IPO will end on Thursday, November 30 and the company will start the refund on Friday, December 1, while the shares will be credited to the demat accounts of the allottees on Monday, December 4.
The IPO shares will be listed on BSE and NSE on Tuesday, December 5. In case, if the company decides to switch to T+3 norm, the dates will be announced in advance.
The Tata Tech IPO has reserved more than 50% of the shares in the public offering to Qualified Institutional Buyers (QIB), not less than 15% to Institutional Investors (NII), and less than 35% of the offer to retail investors.
The employee reservation portion is allotted up to 2,028,342 equity shares, and Tata Motors Limited shareholders are allotted up to 6,085,027 equity shares.
The company is a subsidiary of Tata Motors, which holds 74.69% stake.
From this IPO market around Rs. 5,000 crore and is the Tata Group's first IPO since 2004.
The IPO price band is fixed at Rs 475 to Rs 500 per share and the lot size is 30 shares.
As Tata Technologies is a profitable and fast-growing company with a strong global presence and diversified customer base, the IPO will attract a lot of interest from investors.
During the year ended March 31, 2022, Rs. 3,578.38 crore revenue and Rs. 436.99 crore net profit.
As of December 31, 2022, the company has a low debt-to-equity ratio of 0.07.
The company's core strengths are its domain expertise in the automotive and aerospace industries, its long-standing relationships with leading OEMs and Tier-1 suppliers, its innovative and scalable solutions, and its highly skilled and experienced workforce.