Tata Technologies' Historic IPO: A Landmark Moment for Tata Group After Two Decades

Tata Technologies, a Tata Group entity, is poised to make its mark with the first initial public offering (IPO) in two decades, set to hit the stock markets on Thursday, November 30, 2023. According to a notice from the Bombay Stock Exchange, Tata Technologies shares will debut in the pre-opening session of both BSE and NSE today.

Here are five key points to keep in mind as Tata Technologies steps into the limelight with its IPO:

1. The IPO subscription window for Tata Technologies was open from November 22 to 24, attracting significant investor interest. On the closing day, the IPO witnessed a robust subscription of 69.43 times.

2. Setting a price band of ₹475-500 per share, Tata Motors, in a regulatory filing, confirmed that Tata Technologies has settled on an offer price of ₹500 per equity share, considering the anchor investor offer price. The face value of each share is ₹2.

3. In the grey market, Tata Technologies shares are trading at ₹425 as of 6:03 am on Thursday, indicating a notable grey market premium (GMP) for the IPO.

4. The IPO's total size stands at ₹3,042.51 crore, encompassing an offer for sale. Tata Motors plans to divest 4.63 crore equity shares, amounting to ₹2,313.75 crore. Additionally, Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I aim to sell 97.17 lakh and 48.58 lakh equity shares, totaling ₹485.84 crore and ₹242.92 crore, respectively. These figures are subject to finalization of the basis of allotment, as per a PTI quoted regulatory filing.

5. This landmark IPO marks a significant move for Tata Technologies, as it becomes the first Tata Group company to go public in nearly two decades. The last IPO from the conglomerate was Tata Consultancy Services in 2004.

Stay tuned for the stock market debut of Tata Technologies, a historic moment for both the company and the Tata Group.