Investors have reason to celebrate as Tata Technologies, a subsidiary of Tata Motors and a Tata Group company, is set to launch its initial public offering (IPO) in the primary market.
This marks the first IPO from the Tata Group since the IPO of TCS in 2004.
The Securities and Exchange Board of India (SEBI) has granted approval for the IPO, following Tata Technologies’ filing of the draft red herring prospectus (DRHP) with SEBI on March 9, 2023.
The Tata Technologies IPO will comprise the sale of 9.57 crore shares, representing a 23.6% stake, through an offer for sale (OFS).
Tata Motors Limited will sell 8,11,33,706 equity shares, while Alpha TC Holdings Private Limited and Tata Capital Growth Fund (I) will sell 97,16,853 and 48,58,425 equity shares respectively.
Leading the IPO as book managers are JM Financial Ltd, BofA Securities, and Citigroup Global Markets India.
Although details regarding the amount to be raised and the price band have not been disclosed yet, the approval from SEBI has paved the way for the much-anticipated IPO.
Established 33 years ago, Tata Technologies specializes in product engineering and digital services.
The company provides its expertise to sectors such as automotive, industrial heavy machinery, and aerospace.
While Tata Motors and Jaguar Land Rover Company are its primary business partners within the Tata Group,
Tata Technologies also competes with companies like Cyient, Infosys, KPIT Technologies, and Persistent.
Investors, who have eagerly awaited the opportunity to invest in a Tata Group IPO, can now seize the chance with the upcoming Tata Technologies IPO.
This development signifies a significant milestone in the Tata Group’s journey and offers investors a chance to be a part of the renowned conglomerate’s growth and success.
