Tata Technologies IPO: Tata Technologies is set to make a significant move in the financial market with its upcoming initial public offering (IPO) after nearly two decades. The Tata Group is scheduled to launch the IPO on November 22, marking a return to the primary market. The offering will take the form of an offer-for-sale (OFS), representing the first IPO from the Tata Group since the successful launch of Tata Consultancy Services (TCS) in 2004.
Tranding News – Tata Technologies IPO
The company has received notification from Tata Technologies Limited regarding the filing of the Red Herring Prospectus (RHP) on Monday, November 13, 2023. The RHP has been filed with the Registrar of Companies, Maharashtra, in Pune. The Initial Public Offering (IPO) entails an Offer For Sale (Offer) of up to 60,850,278 equity shares for cash. This includes (a) up to 46,275,000 Equity Shares by the Company, (b) up to 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd., and (c) up to 4,858,425 Equity Shares by Tata Capital Growth Fund. These represent 11.41%, 2.40%, and 1.20%, respectively, of the paid-up Equity Share Capital of Tata Technologies Limited, as disclosed in the company’s exchange filing on November 13.
Tata Technologies Limited, a subsidiary of Tata Motors Limited, submitted a draft red herring prospectus (DRHP) on March 9, 2023, to the Securities and Exchange Board of India (SEBI) for an upcoming initial public offering (IPO).