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Glimpse of the much-awaited Tata Group’s IPO: Tata Technologies set to open on November 22

15 November 20234 mins read by Angel One
The IPO is set to commence on November 22 and conclude on November 24. This IPO solely consists of an offer for sale, excluding any new issuance.
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Tata Technologies Limited, a wholly-owned subsidiary of Tata Motors Limited, is poised to become the first company within the Tata Group to go public in almost twenty years. This marks the first IPO from the Tata Group since TCS went public in 2004.

The IPO is scheduled to open on November 22 and close on November 24, spanning three days. This IPO comprises an offer for sale only, without any fresh issues involved. The company is offering a maximum of up to 60,850,278 shares during the offering, each with a face value of Rs 2 per share. The stock is set to be listed on both the Indian exchanges, NSE and BSE, on the day of listing.

According to an exchange filing on November 13, the Offer for Sale will include up to 46,275,000 equity shares by the company itself, up to 9,716,853 shares by Alpha TC Holdings Pte Ltd, and up to 4,858,425 shares by Tata Capital Growth Fund I. These represent approximately 11.41%, 2.40% and 1.20%, respectively, of the paid-up equity share capital of Tata Technologies Limited.

The company has yet to announce the price band for the IPO, and this information will be disclosed soon. The company submitted its draft IPO papers to the Securities and Exchange Board of India on March 9.

Business Overview 

Tata Technologies Limited stands as a prominent global engineering services company renowned for offering comprehensive product development and digital solutions. It was incorporated in 1994. Their portfolio includes turnkey solutions tailored for global original equipment manufacturers (OEMs) and their tier-1 suppliers.

The company aims to create substantial value for its customers by aiding in the development of products that enhance safety, environmental sustainability, and overall quality of life for end-users. Leveraging extensive expertise within the automotive industry, Tata Technologies has acquired profound capabilities to cater to clients in related sectors like aerospace, transportation, and heavy construction machinery.

Operating on a global scale, Tata Technologies unites diverse teams from various regions, each equipped with unique skill sets, fostering real-time collaboration to address intricate engineering challenges effectively.

Financial Overview 

Period Ended  Q2 FY24 (Rs in Cr)  FY23 (Rs in Cr)  FY22 (Rs in Cr)  FY21 (Rs in Cr) 
Revenue 2,587.42 4,501.93 3,578.38 2,425.74
Growth YoY % 26% 48%
Profit After Tax 351.9 624.04 436.99 239.17
Growth YoY % 43% 83%
Net Worth 2,853.13 2,989.47 2,280.16 2,142.15
Reserves and Surplus 2,455.29 2,605.60 2,028.93 1,897.46
Assets 5,142.42 5,201.49 4,218.00 3,572.74

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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