TATA Technologies files DRHP with SEBI for the proposed IPO; Key Details here

TATA Technologies is into Engineering Services Engineering Research & Development Services and is looking raise funds through Offer for Sale

TATA Technologies to raise Fresh Issue aggregating up to Rs crores and an Offer for Sale up to 95,708,984 Equity Shares through public issue IPO

TATA Technologies IPO: TATA Technologies Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Initial Public Offer comprises of Offer for Sale of up to 95,708,984 Equity Shares. JM Financial, Citigroup Global Markets India, BofA Securities India have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO: As per the details available in DRHP, fundraising will consist of an offer-for-sale (OFS) of up to 95708984 equity shares by TATA Motors Limited, Alpha TC Holdings Pte. Ltd. and Tata Capital Growth Fund who will offload up to 81,133,706 equity shares , up to 9,716,853 equity shares and up to 4,858,425 equity shares respectively..

About Company:
Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (“OEMs”) and their tier 1 suppliers (Source: Zinnov Report). Company has deep domain expertise in the automotive industry and leverage this expertise to serve clients in adjacent industries, such as in aerospace and transportation and construction heavy machinery (“TCHM”).

About Industry:
Global Engineering Research & Development (“ER&D”) Services Industry: Company operate in the global engineering, research and development (“ER&D”) services industry, primarily across automotive, aerospace and TCHM verticals. The global ER&D spend for 2021 was approximately $1.64 trillion and is expected to grow to approximately $2.28-2.33 trillion by 2025. The ER&D spend outsourced to third party service providers reached $85-$90 billion in 2021 and is anticipated to grow at a 10-12% CAGR between 2021 and 2025.

Source: SEBI, BSE, NSE, DRHP, Company, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.