Tata Investment Corporation zooms over 37% in 2 days ahead of Tata Tech IPO

20 Nov 2023 , 03:13 PM

Tata Investment Corporation, one of the Tata Group’s holding businesses, rose up to 14% to a new 52-week high of Rs 4,444.05 on the BSE on Monday. The stock has gained as much as 36.6% in the previous two trading sessions.

Tata Investment Corporation (TIC) shares have been on a rally in the calendar year 2023, more than doubling investors’ money year to date.

The latest spike in the stock followed a value-unlocking effort by Tata Motors in its subsidiary Tata Technologies via a Rs 3,000-crore initial public offering (IPO) that begins on November 22.

Tata Investment, which is primarily controlled by Tata Sons, holds an interest in various group firms as a promoter group holding company. In the instance of Tata Motors, TIC holds just 0.33% of the company, while Tata Sons controls the majority (43.71%).

The Tata Tech IPO, the first public offering of shares from the renowned salt-to-software conglomerate in 20 years, is priced at Rs 475-500 per share. Tata Motors will sell 4.62 crore shares, Alpha TC Holdings will sell 97.1 lakh shares, and Tata Capital Growth Fund will sell 48 lakh shares in the 100% offer for sale (OFS).

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