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.
