Following the Tata Tech IPO, Tata Motors stake in Tata Tech will go down from 64.79% to 53.39%. At the upper price band, the manufacturing-focused engineering research and development company catering to the automotive industry has been valued at Rs 20,283 crore at a PE of 32.5x.
At 10:42 am, the Rs 3,042 crore IPO was subscribed 1.21 times. The quota reserved for qualified institutional buyers was subscribed about 2 times, non-institutional investors 1.25 times. The portion reserved for shareholders of parent entity Tata Motors 1.26 times while the retail quota was subscribed 86%.