The year 2023 has been full of shocks, and the Tata Group’s next move is no exception. Tata Technologies’ long-awaited initial public offering (IPO) is expected to begin on November 22, 2023, after nearly two decades of anticipation.
Tata Technologies Information
Tata Technologies, founded in 1994, is a division of Tata Motors. It is a global leader in engineering services and one among the best achievers in its field.
It provides a diverse spectrum of product development and digital solutions while optimizing processes. The primary focus of the firm is on the automotive, aerospace, and industrial heavy machinery industries, with considerable engagement in manufacturing-focused engineering, R&D, and other areas.
What You Should Know About Tata Technologies’ Initial Public Offering
Here are some key facts concerning Tata Technologies’ first public offering. Let’s go into the specifics-
| Date of the IPO | 22 November 2023 to 24 November 2023 |
| Price Band | 475 to 500 rupees per share |
| Actual Value | 2 rupees per share |
| Lot Dimensions | 30 Units |
| Size of the Entire Issue | 60,850,278 shares were issued. (Amounting to Rs 3,042.51 Cr) |
| Offer to Purchase | 60,850,278 Rs 2 shares (Amounting to Rs 3,042.51 Cr) |
Date of IPO for Tata Technologies
The Tata Technologies initial public offering (IPO) will begin accepting subscriptions on November 22, 2023. It is scheduled to shut on November 24, 2023.
Date Listed
According to the IPO plan, Tata Technologies’ stock trading will begin on December 5, 2023.
Offer Specifics
The business intends to raise about Rs 3,042.51 crores via the IPO at the top price range.
The issue, according to the company’s plans, would comprise of an offer-for-sale by the investors and promoters.
In the offer-for-sale, promoter Tata Motors would sell 4.62 crore equity shares worth Rs 2,314 crore.
Investors Alpha TC Holdings Pte Ltd plans to sell 97.17 lakh shares valued at Rs 486 crore. Tata Capital Growth Fund I plans to sell 49 lakh shares for Rs 243 crore.
Tata Tech has set aside 20.28 lakh shares for its workers and 60.85 lakh shares for Tata Motors stockholders.
Price Band for Tata Technologies Shares
Tata Technologies has set the offering price range at Rs 475-500 per share. It is worth noting that the firm is valued at Rs 20,283 crore at the highest price band.
Lot Dimensions
Investors can bid for a minimum of 30 equity shares and multiples of 300 after that in the Tata Tech IPO.
As a result, individual investors’ minimum investment would be Rs 14,250 [(30 (Lot size) x 475 (lowest price band)]. It should be noted that the maximum bid amount will be Rs 15,000.
Financial Statements of the Company
Tata Technologies recorded 42.8% year on year improvement in consolidated net profit at Rs 624 crores for the fiscal year ending March 2023, according to corporate releases. Its income grew by 25.81%.
Here is a summary of Tata Technologies’ financials (in Rs crores):
How to Apply for Tata Tech’s Initial Public Offering on Grow
Here’s how to apply for Tata Technologies’ initial public offering (IPO) on Groww-
Step 1: Go to Groww’s IPO Page, or if you have the Groww app, go to the stocks page, scroll down to view the list of active IPOs, and then pick Tata Technologies IPO.
Step 2: After you click on Tata Technologies IPO, you will see all of the relevant facts, such as issue size, pricing, and so on. You may also read the Red Herring Prospectus (RHP) here for more information on the subject. To proceed, click the ‘Apply’ button.
Step 3: You will see the field that are already filled for the minimal amount of shares in the order card. Enter the amount of shares that you want to purchase. To proceed, click on ‘continue’ button.
Step 4: After that, you must validate your bids and click the ‘Submit Bid’ button.
Step 5: After you confirm the order, the highest bid amount will be frozen in your account and will not be able to be withdrawn. If you do not get the allotment, this money will be unlocked.
On your Groww account, you may monitor the progress of your Tata Technologies IPO application. It should be noted that any changes or cancellations of orders will be permitted only during the IPO period.
In conclusion
According to several industry analysts, the Tata Technologies IPO appears optimistic. However, you should only apply for an IPO if it satisfies your financial objectives, taking into account the company’s aims, financials, and related benefits and hazards.