Tata Technologies, a subsidiary of Tata Motors, recently announced that it has finalised the offer price for its Initial Public Offering (IPO) at ₹500 per equity share, including the anchor investor offer price. The IPO, valued at ₹3,042.5 crore, garnered significant interest from institutional buyers, resulting in a subscription of 69.43 times on the last day of subscription.
The public issue had a price band of ₹475-500 per share, and the allotment of the shares is expected on Tuesday, the 28th of November 2023. The IPO listing date is most likely on Thursday, the 30th of November 2023.
The IPO amounts to ₹3,042.51 crore, with Tata Motors selling 4.63 crore equity shares, Alpha TC Holdings Pte Ltd selling 97.17 lakh equity shares, and Tata Capital Growth Fund I selling 48.58 lakh equity shares. These details are subject to the finalization of the basis of allotment, as stated in the filing.
Tata Technologies’ IPO received bids for 312,649,1040 shares, surpassing the 450,292,207 shares on offer, according to NSE data. This marks the first IPO from the Tata Group in almost two decades, with Tata Consultancy Services being the last to go public in 2004.
It’s clear that there is a lot of excitement and interest surrounding the Tata Technologies IPO, and it will be interesting to see how it performs in the stock market. With such a strong reception from investors, there is certainly a lot of anticipation for the listing date and the subsequent trading of Tata Technologies shares.
In other news, Livemint, a leading news website, has been making waves as the fastest growing news website in the world. For all the latest business news, market updates, and breaking news, you can download The Mint News App to stay informed with daily market updates.
We are looking forward to the upcoming developments in both the IPO and Livemint’s success, and we will be sure to keep you updated on any further news regarding Tata Technologies and the exciting developments in the world of news media.
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