TATA Technologies is into Engineering Services-Engineering Research & Development Services and is looking raise funds through Offer for Sale
TATA Technologies IPO is a public offering of shares by TATA Technologies is a part of Tata Group, which has been recognized as the most valuable brand in India by Brand Finance, a leading international brand valuation agency (Source: Brand Finance India 100 2022 report). Company is promoted by Tata Motors Limited. As a subsidiary of Tata Motors Limited (“TML”), we benefit from long-term relationships with both TML and JLR. . The IPO will open on November 22 and will close on November 24. The price band is ₹475 to ₹500 per share and the lot size is 30 shares. The issue size is ₹3,042.51 crore. The shares are expected to be listed on NSE, BSE on December 05 (^). Some additional information that you may find useful are: : (**) - based on higher price band (^) indicative date
TATA Technologies is a part of Tata Group, which has been recognized as the most valuable brand in India (by Brand Finance India 100 2022 report). TATA Technologies is promoted by Tata Motors Limited. Currently promoters hold 74.69% stake in the company.
Quick Pointers
- A part of TATA Group which is well recognized and most valuable brand in India
- Deep expertise in the Engineering and Research Development along with automotive industry
- Differentiated capabilities in new age automotive trends – electric vehicles (“EVs”), connected and autonomous
- Strong digital capabilities bolstered by proprietary accelerators
- Marquee set of clients across anchor accounts, traditional OEMs and new energy vehicle companies
- Company aims to raise between Rs 2,890 to 3,043 crs through this IPO.
- The net proceeds of the issue will be utilized to Achieve the benefits of listing the Equity Shares on the Stock Exchange and carry out the Offer for Sale of up to 95,708,984Equity Shares by the Selling Shareholders
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 21-Nov-23.
- Price band for the IPO has been fixed at Rs 475 to 500 per share and bid lot are in multiple of 30 shares. The implied market cap post-issue at Rs 19,269 to 20,283 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on November 30 and share are expected to be listed on NSE, BSE on December 05.
- Amongst listed peers it includes KPIT Technologies Limited, L&T Technology Services Limited and Tata Elxsi Limited
- JM Financial, Citigroup Global Markets India, BofA Securities India has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
Advertisement
Watch Interactive Video of TATA Technologies IPO
IPO Quick Snapshot
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
Also READ: IREDA IPO: NBFC company IPO to begin from November 21; Key Details here
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.
IPO Key Details:
Also Visit
Posts
0 Comments