Tata Technologies Offer Price Finalised at ₹500 per Share
Tata Technologies, a leading global engineering and product development digital services company, has finalised its offer price at ₹500 per equity share for its initial public offering (IPO). The IPO, which opened on November 22, 2023, was subscribed 69.43 times on the final day of subscription on Friday, November 25, 2023.
Key Highlights:
- The IPO size is ₹3,042.5 crore, comprising an offer for sale of 46,275,000 equity shares by the company amounting to ₹23,137.50 crore, 9,716,853 equity shares by Alpha TC Holdings Pte. Ltd. amounting to ₹4,858.43 crore and 4,858,425 equity shares by Tata Capital Growth Fund I amounting to ₹2,429.21 crore.
- The shares of Tata Technologies will be listed on both the BSE and the NSE on November 30, 2023.
About Tata Technologies:
Tata Technologies is a global leader in engineering and product development digital services. The company has a strong track record of delivering innovative and high-quality solutions to its clients across a wide range of industries, including aerospace, automotive, energy, and healthcare.
Tata Technologies has a strong global presence with over 30 offices in 22 countries. The company has a team of over 10,000 highly skilled engineers and professionals.
The IPO:
The IPO is being managed by a syndicate of book running lead managers, including ICICI Securities, Kotak Mahindra Capital, JP Morgan, SBI Capital, and Axis Capital.
The IPO is expected to raise ₹3,042.5 crore, which will be used to fund the company’s growth plans.
Impact on the Market:
The IPO of Tata Technologies is expected to have a positive impact on the Indian stock market. The company is a leading player in a growing industry and has a strong track record of profitability.
The IPO is also expected to attract more foreign investment into the Indian market.
Conclusion:
The IPO of Tata Technologies is a significant event for the Indian stock market. The company is a leader in a growing industry and has a strong track record of profitability. The IPO is expected to raise ₹3,042.5 crore, which will be used to fund the company’s growth plans. The IPO is also expected to attract more foreign investment into the Indian market.