The Securities and Exchange Board of India (SEBI) has given approval for the initial public offering (IPO) of Tata Technologies, a subsidiary of Tata Motors. This IPO marks the first public offering from the Tata group in nearly two decades.
The IPO will consist of a complete offer for sale (OFS) of approximately 9.57 crore equity shares. Existing shareholders, including Tata Motors, Alpha TC Holdings Pte, and Tata Capital Growth Fund-I, will be selling their shares. The estimated size of the offering is expected to be around ₹2,600-₹3,000 crore.
Tata Technologies is a global company that specializes in engineering and product development services. Their services cater to various industries such as automotive, aerospace, defense, and industrial sectors. The company has a commendable history of consistent growth and profitability.
The IPO is anticipated to launch within the coming months and will serve as a significant milestone for both Tata Technologies and the larger Tata group.
Here are some key details about the Tata Technologies IPO:
- Issue size: Up to 9.57 crore equity shares
- Price band: To be determined
- Listing date: To be determined
- Lead managers: JM Financial, Citigroup Global Markets India and Bofa Securities India
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