Page 19 - Engineering Research News Today

Tata Technologies is a subsidiary of automobile major Tata Motors and is a manufacturing-focused Engineering Research & Development

Tata Tech IPO was oversubscribed 69.43 times as investors poured in Rs 1.57 lakh crore by making 73.58 lakh applications. The issue closed for subscription on Friday. In terms of the number of applications, Tata Tech has broken LICs record of 73.38 lakh applications in May 2022. Reliance Power is at the third place as it had got 48 lakh IPO applications in January 2008.

The Tata Group's much-awaited IPO opened for subscription on November 22, 2023, for three days.

In a regulatory filing on Saturday 25 November 2023, Tata Motors confirmed that Tata Technologies' Initial Public Offering (IPO) is set at an offer price of Rs 500 per equity share with each face valu

The Tata Group company, which has launched its first IPO in the last two decades, plans to raise Rs 3,042 crore through the public issue.

Tata Technologies operates in the ER&D segment, which is expected to grow at a compounded annual rate of 10% to reach $2.7 trillion over the next five years

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%.

Tata Technologies, specializing in ER&D, delivers engineering and digital transformation services with a strong focus on the automotive industry. Leveraging extensive domain knowledge, it collaborates with major spenders in this sector.

Tata Investment Corporation has an opportunity of value unlocking from Tata Technologies IPO, according to analysts.

Axis Securities has chosen some select quality stocks as for this Diwali or Samvat 2080, on fundamental parameters.