Tata Technologies IPO Details

Tata Technologies, a provider of engineering and product development digital services, has announced the opening of its initial public offering (IPO) for public subscription on November 22. The company, a subsidiary of Tata Motors, submitted the RHP (red herring prospectus) on November 13, 2023, to the Registrar of Companies, Maharashtra, according to a regulatory filing by Tata Motors.

IPO Offering Details

The IPO will consist of up to 60,850,278 shares available for cash, representing 15 percent of Tata Technologies’ paid-up equity share capital, as mentioned in the filing.

Stake Offloading

As part of the IPO process, Tata Motors plans to sell 11.4 percent of its stake, while private equity firm Alpha TC Holdings and Tata Capital Growth Fund I will divest 2.4 percent and 1.2 percent of their shareholding, respectively.

Subscription Timeline

The IPO subscription will commence on November 22 and conclude on November 24, 2023, as indicated by Tata Motors.

Recent Developments

In a recent development, Tata Motors announced a deal to sell a 9.9 percent stake in Tata Technologies to TPG Rise Climate for Rs 1,613.7 crore. This move reflects ongoing strategic maneuvers within the Tata Group’s ecosystem.

Market Performance

On Monday, shares of Tata Motors closed nearly unchanged at Rs 653.10 each on the BSE, showcasing stability in the market leading up to the IPO subscription period.

The opening of Tata Technologies’ IPO presents an opportunity for investors to participate in the company’s growth trajectory and signals significant developments within the Tata Group’s corporate structure.