Tata Technologies IPO To Open For Subscription On November 22; Key Things To Know

Tata Technologies’ IPO: India’s Tata Technologies’ initial public offering will open for subscription on November 22, its parent Tata Motors said late Monday, in what will be the first Tata Group IPO in nearly two decades.

This will be the first IPO from Tata Group since the successful launch of Tata Consultancy Services (TCS) in 2004.

“We now wish to inform you that the Company has been informed by Tata Technologies Limited that it has filed today, the RHP dated Monday, November 13, 2023, with the Registrar of Companies, Maharashtra in Pune. This IPO is an Offer For Sale (“Offer”) of up to 60,850,278 equity shares for cash (“Equity Shares”), comprising of an 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 per cent, 2.40 per cent, and 1.20 per cent, respectively of the paid-up Equity Share Capital of Tata Technologies Limited,” the company informed in an exchange filing on November 13.

Tata Technologies Limited, a subsidiary of Tata Motors Limited 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”).

The IPO closes on November 24.

On November 2, Tata Motors reported a consolidated net profit of Rs 3,783 crore for the September quarter, riding on robust performance by its British arm Jaguar Land Rover. This is the fourth successive quarter of positive results for the homegrown auto major.