Tata Technologies IPO: The Tata Group will make its first public offering (IPO) in the main market following an almost two-decade hiatus. On November 22, the business intends to launch its public offering as an offer-for-sale (OFS). Tata Group’s first initial public offering (IPO) since the triumphant 2004 debut of Tata Consultancy Services (TCS) will take place now.
We now want to let you know that the Company has received notification from Tata Technologies Limited that it has submitted the RHP, dated Monday, November 13, 2023, to the Pune Registrar of Companies in Maharashtra. The company stated in an exchange filing on November 13 that “This IPO is an Offer For Sale (“Offer”) of up to 60,850,278 equity shares for cash (“Equity Shares”). The offer consists of three separate amounts: up to 46,275,000 equity shares from the company; up to 9,716,853 equity shares from Alpha TC Holdings Pte. Ltd.; and up to 4,858,425 equity shares from Tata Capital Growth Fund I. These amounts represent up to 11.41%, 2.40%, and 1.20%, respectively, of the paid-up equity share capital of Tata Technologies Limited.
A draft red herring prospectus (DRHP) for an initial public offering (IPO) was submitted by Tata Technologies Limited, a division of Tata Motors Limited, to the Securities and Exchange Board of India on March 9, 2023.
This initial public offering (IPO) offers, among other things, a reservation of up to 6,085,027 Equity Shares, or 10% of the Offer, for subscription by TML’s eligible shareholders, which are individuals and HUFs that are public equity shareholders (including shareholders holding Ordinary Shares and “A” Ordinary Shares in TML and excluding such persons who are not eligible to invest in the Offer under applicable laws, rules, regulations and guidelines), as of Monday, November 13, 2023, the day the RHP was filed.
This day is the Tata Technologies IPO opening.
The public subscription period for this initial public offering (IPO) will begin on Wednesday, November 22, 2023, and end on Friday, November 24, 2023.
Tata Motors announces a ₹3,783 crore consolidated net profit for Q2 of that year.
Due in large part to the strong performance of its British division, Jaguar Land Rover, Tata Motors announced on November 2 a combined net profit of ₹3,783 crore for the September quarter. This is the domestic auto major’s fourth consecutive quarter of triumph.