An IPO of a Tata Group company is coming after a decade. We are talking about Tata Technologies IPO. Retail investors will be able to bet on this IPO from November 22, 2023. Tata Technologies IPO will be open to investors till 24 November 2023. Let’s know some important things related to this IPO of Tata Group –
10 big things
1- This IPO will be based entirely on offer for sale. The promoters of the company are reducing their stake through IPO.
2- In the IPO of Tata Technologies, Tata Motors will sell 4.62 crore shares, Alpha TC will sell 97.1 lakh shares and Tata Capital Growth Fund will sell 48 lakh shares.
3- Earlier Tata Technology through IPO raised Rs. 9.57 crores was decided to sell. But now it has been decided to sell 6.08 crore shares.
4- The company applied for IPO to SEBI in March this year. The market regulator gave its approval in June.
5- The company has reserved 10 percent of the IPO for eligible employees.
6- Tata Technologies’ IPO dominates the gray market. The company’s IPO in the gray market was Rs. 270 to Rs. 285 is available at a premium of Rs.
7- When TPG bought a 9 percent stake in the company, it was valued at $2 billion.
8- Tata Technologies’ IPO revenue from April to December 2022 has been Rs 3052 crore. The company’s revenue has seen an increase of 15 percent year-on-year.
9- JM Financial, Citigroup, Global Markets India, Bofa Securities India have been appointed as lead managers for the IPO.
10- The Company has appointed Ling Intime India Pvt Ltd as Registrar.