Tata Technologies IPO: There is great news for the investors who have been waiting for Tata’s IPO in the share market for a long time. Actually, Tata Group’s IPO is going to open after almost 20 years. Its date has been announced. The IPO of the company will open on 22 November. Investors will be able to invest money in it from 22 to 24 November.
Let us tell you that Tata Group is going to launch the IPO of its authorized company Tata Technologies in the market. If we talk about Tata Technologies company, it was formed about 33 years ago. It is a company engaged in the business of product engineering and digital services. Apart from this, the company also provides services to automotive, industrial heavy machinery and aerospace sectors. The competitors of this company are Cyient, Infosys, KPIT Technologies, Persistent.
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This IPO will be completely offer for sale. Through this IPO the company will sell shares worth about Rs 6.08 crore. Tata company is coming up with IPO after almost 19 years. Its last IPO was of Tata Consultancy Services. TCS IPO came in the year 2004.
Tata Motors gave this information to the stock market on Monday. The company said that 6,08,50,278 shares will be offered in the IPO for 15 percent of the paid-up equity share capital of Tata Technologies. Earlier, the Tata Motors unit had filed a Red Herring Prospectus (RHP) in this regard with the Registrar of Companies, Maharashtra on 13 November 2023.
Under the IPO of Tata Technologies, Tata Motors will sell 11.4 percent stake, private equity firm Alpha TC Holdings will sell 2.4 percent stake and Tata Capital Growth Fund-1 will sell 1.2 percent stake. Tata Motors said that the IPO will open on November 22 and close on November 24, 2023.
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