How and when to Buy Tata Technologies IPO Online; Know it all

Tata Technologies Ltd, a subsidiary of Tata Motors Ltd, on March 10, 2023 filed a draft red herring prospectus with market regulator Sebi to raise funds through an initial public offering (IPO). The company is yet to fix IPO price and the opening date of the subscription process. Notably, the IPO is purely an offer for sale (OFS), where the company will sell up to 9.57 crore equity shares representing approximately 23.60 percent of its paid-up share capital, according to the Draft Red Herring Prospectus (DRHP).

Under the OFS, Tata Technologies’ parent company Tata Motors will offload 8.11 crore shares or a 20 percent stake in the company, according to a report by PTI. Among other shareholders, Alpha TC Holdings Pte plans to sell up to 97.16 lakh shares (2.40 percent) and Tata Capital Growth Fund I would offload up to 48.58 lakh equity shares (1.20 percent). Also, the shares of the company are proposed to be listed on both NSE and BSE.

Objective of the issue

The Selling Shareholders Will be entitled to the entire proceeds of the Offer after deducting their portion of the Offer expenses and relevant taxes thereon. The company will not receive any proceeds from the Offer. The objects of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchanges; and (ii) carry out the Offer for Sale of up to 95,708,984 Equity Shares by the Selling Shareholders.

Book running lead managers and Registrar to the IPO

JM Financial Ltd, Citigroup Global Markets India and BofA Securities India are the book running lead managers to the issue. While Link Intime India Private Limited is the registrar to the offer.

Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs). If you also want to apply for the Tata Technologies IPO once the subscription process starts, you can do so online.

Tata Technologies Ltd, a subsidiary of Tata Motors Ltd, on March 10, 2023 filed a draft red herring prospectus with market regulator Sebi to raise funds through an initial public offering (IPO). The company is yet to fix IPO price and the opening date of the subscription process. Notably, the IPO is purely an offer for sale (OFS), where the company will sell up to 9.57 crore equity shares representing approximately 23.60 percent of its paid-up share capital, according to the Draft Red Herring Prospectus (DRHP).

Under the OFS, Tata Technologies’ parent company Tata Motors will offload 8.11 crore shares or a 20 percent stake in the company, according to a report by PTI. Among other shareholders, Alpha TC Holdings Pte plans to sell up to 97.16 lakh shares (2.40 percent) and Tata Capital Growth Fund I would offload up to 48.58 lakh equity shares (1.20 percent). Also, the shares of the company are proposed to be listed on both NSE and BSE.

Objective of the issue

The Selling Shareholders Will be entitled to the entire proceeds of the Offer after deducting their portion of the Offer expenses and relevant taxes thereon. The company will not receive any proceeds from the Offer. The objects of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchanges; and (ii) carry out the Offer for Sale of up to 95,708,984 Equity Shares by the Selling Shareholders.

Book running lead managers and Registrar to the IPO

JM Financial Ltd, Citigroup Global Markets India and BofA Securities India are the book running lead managers to the issue. While Link Intime India Private Limited is the registrar to the offer.

Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs). If you also want to apply for the Tata Technologies IPO once the subscription process starts, you can do so online.