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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.
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.