Tata Technologies IPO is coming next week, price band and all other details
Tata Technologies, a famous company in the IPO technology sector, is bringing its IPO for investors in the next business week. The company has announced the price band of its IPO. If you also invest in the stock market, then you should check that you know about the IPO of the company in detail. Read the full news.
Tata Technologies, a Tata Group company that provides engineering and product development digital services, is launching its IPO next week. The company has announced the opening of an initial public offering (IPO) of Rs 3,042 crore. If you also invest in the stock market, then you should know in detail about the IPO of the company.
The price band of Tata Technologies IPO has been fixed at Rs 475 per share to Rs 500 per share.
The company's IPO will open for subscription on November 22 and will close on November 24. Whereas for anchor investors, this IPO will be opened for subscription on 21 November 2023. After almost two decades, the IPO of Tata Group company is about to open. Last time, the IPO of Tata Consultancy Services was opened in 2004.
This IPO is completely for an offer for sale. The company will offer 6.08 crore (6,08,50,278) equity shares for sale. In this IPO, Tata Motors will sell an 11.4 percent stake, and Alpha TC Holdings, and Tata Capital Growth Fund will sell a 2.4 percent stake.
The price band of this issue will have a low of Rs 890.4 crore and a high of Rs 3,042.5 crore. Axis Capital estimates the post-issue market cap at Rs 19,269 crore to Rs 20,283 crore.
Last month, Tata Motors signed an agreement to sell a 9.9 percent stake in Tata Technologies to TVC Rise Climate for Rs 1,613.7 crore.
JM Financial, Citigroup Global Markets, and BofA Securities are the book-running lead managers advising the company on the IPO. Equity shares of Tata Technologies will be listed on BSE and NSE on December 5.
