Tata Technologies Limited announces IPO after two decades, set to open on November 22, 2023

Tata Technologies IPO:  After a hiatus of nearly twenty years, Tata Group is gearing up for a significant financial milestone with the launch of its initial public offering (IPO) through Tata Technologies Limited. The IPO, scheduled to open on November 22, 2023, marks a pivotal moment for the conglomerate, being its first public offering since the successful debut of Tata Consultancy Services (TCS) in 2004.

Details of the IPO:

Tata Technologies Limited, a subsidiary of Tata Motors Limited, has officially filed the Red Herring Prospectus (RHP) with the Registrar of Companies, Maharashtra in Pune. The RHP, dated November 13, 2023, outlines the details of the offer-for-sale (OFS) that includes up to 60,850,278 equity shares for cash. This comprises an offer for up to 46,275,000 Equity Shares by Tata Technologies Limited, up to 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd., and up to 4,858,425 Equity Shares by Tata Capital Growth Fund I. These shares represent 11.41%, 2.40%, and 1.20% of the paid-up Equity Share Capital of Tata Technologies Limited, respectively.

Reservation for Eligible Shareholders:

The IPO includes a provision for eligible shareholders of Tata Motors Limited, offering a reservation of up to 6,085,027 Equity Shares, which is 10% of the total offer. This reservation is open for subscription by individuals and Hindu Undivided Families (HUFs) who are public equity shareholders of Tata Motors Limited. It is important to note that the eligibility is determined based on shareholding as of the filing date of the RHP, which is Monday, November 13, 2023.

Key Dates for Subscription:

The eagerly anticipated IPO by Tata Technologies Limited is set to open for public subscription on Wednesday, November 22, 2023. Interested investors will have a window until Friday, November 24, 2023, to participate in the offering. This limited-time frame emphasizes the significance and urgency surrounding this investment opportunity.

The upcoming IPO from Tata Technologies Limited is poised to make a lasting impact on the financial landscape, representing a strategic move for the Tata Group after a substantial hiatus. With the public subscription set to commence on November 22, 2023, investors are eagerly awaiting the opportunity to be part of this historic event. As Tata Group continues to diversify its portfolio, the success of this IPO will undoubtedly be closely watched, not just by the financial community but also by those with a vested interest in the growth and evolution of one of India’s most iconic business conglomerates.