Tata Technologies’ Rs 3,042.51-crore IPO, marking the Tata Group’s first public issue in over two decades, commenced its subscription on November 22. The offering has witnessed robust demand, being oversubscribed by 6.55 times, with investors acquiring 29.49 crore equity shares against the available 4.5 crore. Click here to subscribe the IPO.
Retail investors displayed significant interest, subscribing 5.44 times their allotted shares. Meanwhile, the high-net-worth individuals (HNIs) segment exhibited strong demand, recording a subscription of 11.69 times, and qualified institutional buyers (QIB) bid 4.08 times, as per exchange data.
The reserved portions for Tata Technologies’ employees and Tata Motors’ shareholders were also well-received, with subscription rates of 1.1 times and 9.32 times, respectively. The Pune-based global engineering services company allocated 20.28 lakh shares for its employees and 60.85 lakh shares for Tata Motors’ shareholders. The net issue, excluding these reserved portions, constitutes the IPO.
`11
This IPO is structured as an offer-for-sale (OFS), with Tata Motors and investors Alpha TC Holdings and Tata Capital Growth Fund 1 being the promoters divesting their stake. The price band for the offer, which concludes on November 24, has been set at Rs 475-500 per share.
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.