Tata Technologies IPO: Tata’s IPO will come in the market after 20 years, huge action seen in gray market
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Tata Technologies IPO: Are you also waiting to invest in Tata Group? So this is very important news for you. After a wait of almost 20 years, the IPO of a Tata Group company is about to hit the market. According to Mint report, Tata Technologies is a part of the Tata Group. It provides engineering services to companies in the auto and aerospace sectors.
In its appeal filed with the Securities Exchange Board of India (SEBI), the company had said that it would offer 9.57 crore shares in its IPO at a face price of ₹2 per share. Tata Technologies has roped in financial institutions like JM Financial, Citi and BofA Securities to facilitate the IPO process. Let us tell you that earlier in 2004, the IPO of Tata Consultancy Services had come in the market.
It is being told that the company is preparing to launch its IPO in the last month of November or December. Let us tell you that Tata Technology provides services to major original equipment manufacturers and their Tier-1 suppliers across the world along with Tata Motors and Jaguar Land Rover.
There is a lot of activity being seen in the gray market regarding Tata Technology. It is being told that its price is likely to be around Rs 250. The share allocation for the IPO will be divided among different investor classes, which will include qualified institutional buyers (QIBs) who will get 50%, retail investors will get 35%, and non-institutional investors will be allotted the remaining 15%.
Let us tell you that the Securities and Exchange Board of India (SEBI) has approved the IPO. However, final details regarding the price range are still being finalized. This announcement is being seen as a strategic move by Tata Technologies to capitalize on its strong market position and expand its reach in the growing digital solutions sector.
Tata Motors has a major stake in the company. In such a situation, up to 8,11,33,706 shares can be issued by the company under Offer for Sale (OFS). Alpha TC Holding is likely to issue 97,16,853 shares. Whereas, Tata Capital Growth Fund can issue 48,58,425 shares.
A very special thing has come to light regarding the IPO of Tata Technology. Under this, up to 10 percent equity shares can be reserved for the shareholders of Tata Motors Limited. This means that those who have shares of Tata Motors can easily buy shares in this IPO.
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