Incorporated in 1994, Tata Technologies is a global engineering services company by Tata Group, which offers product development and digital solutions.
Tata Technologies IPO: The issue size has been reduced from an earlier 9.57 crore shares to 6.08 crore equity shares now. The company had filed its IPO papers with Sebi in March this year and received approval from the regulator in June. Bids can be made for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter.
Tata Technologies IPO is the one of the biggest buzzing at Dalal Street. As the Tata Group is gearing up for an initial stake sale after almost two decades, its first issue after TCS.
Tata Technologies has reserved a 10% quota for Tata Motors eligible shareholders. Under the OFS, parent Tata Motors will sell 4.62 crore shares, Alpha TC Holdings will offload 97.1 lakh shares and Tata Capital Growth Fund will give up 48 lakh shares.
The last IPO of Tata Group, TCS, has created immense wealth for the investors, delivering compounding multibagger returns to the investors. It is among the top two most valued companies of Dalal Street.