Tata Tech is selling 60,850,278 equity shares, completely through an offer-for-sale component to raise Rs 3,042.51 crore in the fixed price band of Rs 475-500 apiece and lot size of 30 equity shares.
Tata Tech IPO offer gives investors an opportunity to invest in a leading global engineering services company with deep expertise in the automation industry focused on engineering research and development, Prashanth Tapse, Research Analyst, Senior Vice President Research at Mehta Equities said.
Tata Technologies is raising a total of Rs 3,042.51 crore via its initial stake sale, which entirely consists of an OFS component of 6,08,50,278 equity shares with a face value of Rs 2 each.
Incorporated in 1994, Tata Technologies is a global engineering services company by Tata Group, which offers product development and digital solutions.