IPO News

Tata Technologies Ltd files RHP for IPO

Posted On : 2023-11-14 08:46:47( TIMEZONE : IST )

Tata Technologies Ltd files RHP for IPO

Tata Technologies Limited, a subsidiary of Tata Motors Limited (the "Company/TML") had filed a draft red herring prospectus ("DRHP") dated March 9, 2023 with the Securities and Exchange Board of India for an initial public offering ("IPO").

Tata Technologies Limited has now filed the RHP dated Monday, November 13, 2023 with the Registrar of Companies, Maharashtra at Pune. This IPO is an Offer For Sale ("Offer") of upto 60,850,278 equity shares for cash ("Equity Shares"), comprising of offer for (a) up to 46,275,000 Equity Shares by the Company; (b) up to 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd.; and (c) up to 4,858,425 Equity Shares by Tata Capital Growth Fund I, each representing up to 11.41%, 2.40%, and 1.20%, respectively of the paid-up Equity Share Capital of Tata Technologies Limited.

This IPO provides, a reservation of up to 6,085,027 Equity Shares, i.e., 10% of the Offer, for subscription by eligible shareholders of TML, i.e., Individuals and HUFs who are the public equity shareholders (including shareholders holding Ordinary Shares and 'A' Ordinary Shares in TML and excluding such persons who are not eligible to invest in the Offer under applicable laws, rules, regulations and guidelines) as on the date of the filing of the RHP, i.e., Monday, November 13, 2023. This IPO will be open for subscription by the public on Wednesday, November 22, 2023 and shall close on Friday, November 24, 2023.

Shares of Tata Motors Limited was last trading in BSE at Rs. 653.10 as compared to the previous close of Rs. 653.60. The total number of shares traded during the day was 340813 in over 11017 trades.

The stock hit an intraday high of Rs. 654.00 and intraday low of 649.25. The net turnover during the day was Rs. 222093510.00.

Source : Equity Bulls


TataMotors INE155A01022 TataTechnologies RHP IPO FundRaising