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  3. Tata Tech IPO: Company files addendum to DRHP, to offer 9.57 crores sha…

Tata Tech IPO: Company files addendum to DRHP, to offer 9.57 crores shares for the issue

3 Oct 2023

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Key Takeaways

  • Being the most awaited of the Tata Group, the IPO provides an exciting opportunity for investors to become a small part of the Tata Group by subscribing to the IPO.

  • Being the most awaited of the Tata Group, the IPO provides an exciting opportunity for investors to become a small part of the Tata Group by subscribing to the IPO.

Tata Technologies

Tata Technologies

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Expert Analysis

Tata Tech IPO: Company files addendum to Draft Red Herring Prospectus with SEBI

Justification

  • Tata Tech will offer 9.57 crore shares in the IPO, with a face value of Rs 2 per share.

  • As part of the IPO, Tata Motors Ltd (TML) will sell up to 8.11 crore shares via OFS, Alpha TC will sell up to 9.71 crore shares, and Tata Capital Growth Fund I will offer up to 48.58 lakh shares.

  • The lead running book managers for the IPO are JM Financials, Citi, and BoFA Securities.

  • The proceeds from the offer for sale do not go to the company; instead, the selling shareholders receive it. The shares are proposed to be listed on BSE NSE. 

  • The IPO has set aside portions for employees and Tata Motors shareholders. Eligible employees can apply in the Employee Reservation Portion with a maximum bid of ₹5 lakh, while Tata Motors shareholders can bid up to ₹2 lakh.

Publisher:mint