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Tata Technologies IPO: After two decades, once again the Tata group has started preparing for an IPO. The Tata group is preparing to list its group company Tata Technologies on the stock exchange. Tata Group has filed a draft paper (DRHP) with the stock market regulator SEBI to launch the IPO of Tata Technologies.
DRHP filed on 9 March
The IPO of Tata Technologies will be completely an offer for sale. That is, the promoter of the company Tata Motors will sell its stake through IPO. New shares will not be issued in the IPO of Tata Technologies. Tata Motors has said in its statement that, we would like to inform that Tata Technologies, a subsidiary of Tata Motors, has filed a draft paper with SEBI to bring IPO on 9 March 2023.
Tata Motors is the promoter company
A total of 9.57 crore (95,708,984) shares will be issued under the offer for sale in the IPO of Tata Technologies, which is equivalent to 23.60 per cent of the company’s paid-up share capital. Tata Motors holds 74.42 per cent stake in Tata Technologies. Singapore-based investment firm Alpha TC Holdings Pte Ltd, managed by Tata Capital Advisors, holds 8.96 per cent while Tata Capital Growth holds 4.48 per cent. Apart from this, Tata Motors Finance, Tata Enterprises Overseas, Ratan Tata and S Ramadorai also have shares in the company.
Rs 4000 crore IPO possible
Tata Technologies IPO is going to sell 81,133,706 shares of Tata Motors, 9716853 shares of Alpha TC Holding, 4858425 shares of Tata Capital Growth Fund in the total shares being sold under the offer fall sale in Tata Technologies IPO. In the IPO, 35 percent quota will be reserved for retail investors. Tata Technologies has said that it is not going to do pre-IPO placement. The company can raise Rs 3500 to 4000 crore from the market through IPO.
IPO approved in December 2022
In December, parent company Tata Motors had approved the sale of stake in Tata Technologies through an IPO. In a regulatory filing, Tata Motors told the exchange that Tata Tech’s IPO will be brought at the right time, better environment, after getting all the approvals and regulatory clearances.
The craze for Tata Technologies shares!
Tata Technologies, established in 1989, is an engineering design and technology services company with presence in the automotive, aerospace, industrial machinery and allied sectors. The company has a total of 9300 employees in Europe, North America and Asia-Pacific. By the way, without the listing of Tata Technologies, there has been a huge jump in the share of Tata Technologies in the unlisted market. Ever since Tata Motors has approved the IPO of Tata Technologies, since then the stock continues to rise in the unlisted market. Looking at the financial results of Tata Technologies, the company’s revenue was Rs 3529.6 crore in 2021-22. On which there was an operative profit of Rs 645.6 crore and a profit of Rs 437 crore.
TCS IPO came in 2004
Tata group has not brought any IPO in the market for a long time. 18 years ago in 2004, the Tata group launched the IPO of its IT company Tata Consultancy Services (TCS). Ratan Tata used to be the chairman of the group then. But for the first time after N Chandrasekaran became the chairman of Tata Sons, an IPO of a Tata group company is about to come.
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