Tata Technologies IPO: Check the key dates, price band, lot size and other details

The initial public offering (IPO) of Tata Technologies will open for subscription on Wednesday, November 22, as the Tata Group firm will be selling its shares in the fixed price band of Rs 475-500 apiece with a lot size of 30 equity shares and its multiples thereof. The bidding process for the issue will close on Friday, November 24.

Incorporated in 1994, Tata Technologies is a global engineering services company by Tata Group, which offers product development and digital solutions. This includes turnkey solutions, to global original equipment manufacturers (OEMs) and their tier-I suppliers.

The IPO of Tata Technology consists of an offer-for-sale (OFS) of up to 6,08,50,278 equity shares with a face value of Rs 2 each to raise a total of Rs 3,042.51 crore. Its promoter Tata Motors Ltd and other shareholders including Alpha TC Holdings and Tata Capital Growth Fund I will participate in the OFS. The company will not receive any proceeds from the issue.

Tata Technologies has reserved 20,28,342 shares for eligible employees of the company.  A total of 60,85,027 shares or 10 per cent of the offer has been reserved for the shareholders of Tata Motors. A total of 50 per cent of the net offer has been reserved for qualified institutional bidders while quotas reserved for retail investors and non-institutional investors stand at 35 per cent and 15 per cent, respectively.

Tata Technologies assists customers in the development of products that are safer, cleaner and improve the quality of life for the end customers. With deep domain expertise in the automotive industry, it has gained high expertise to serve clients in adjacent industries, such as aerospace, transportation and heavy construction machinery.

Tata Technologies reported a net profit of Rs 351.90 crore with a total revenue of Rs 2,587.42 crore for the six months ended on September 30, 2023. The company clocked a net profit of Rs 624.04 crore with a revenue of Rs 4,501.93 crore for the financial year ended March 31, 2023.

JM Financial, Citigroup Global Markets India and BofA Securities India are the book running lead managers of the Tata Technologies IPO, while Link Intime India has been appointed as the registrar for the issue. Shares of the company will be listed on both BSE and NSE.

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