Tata Technologies IPO Key Points:
- Tata Technologies, a subsidiary of Tata Motors, has filed draft red herring prospectus papers with SEBI for an initial public offering (IPO).
- The IPO is an offer for sale (OFS) by the promoter Tata Motors and two other existing shareholders and doesn’t involve any fresh issue of shares.
- The IPO will include up to 95,708,984 equity shares, representing about 23.60% of Tata Technologies’ paid-up share capital.
- Tata Motors currently holds 74.42% of Tata Technologies, while Alpha TC Holdings and Tata Capital Growth Fund own 8.96% and 4.48%, respectively.
- The IPO includes an OFS of up to 81,133,706 equity shares by Tata Motors, 9,716,853 equity shares by Alpha TC Holdings, and up to 4,858,425 shares by Tata Capital Growth Fund I.
- Tata Technologies is an engineering unit of Tata Motors that provides services to various industries.
- The company reported revenue of Rs 3,011.8 crore in the nine-month period ending December 2022, with a growth rate of 15.5% year-on-year, and a profit of Rs 407.5 crore.
- This is the second IPO filed by the Tata Group since the listing of TCS in 2004, and in December, satellite TV operator Tata Play had also filed confidential IPO papers with SEBI.
Tata Technologies IPO Details:
Tata Technologies, a subsidiary of Tata Motors Limited, has filed draft red herring prospectus papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO is purely an offer for sale (OFS) by the promoter Tata Motors and two other existing shareholders, and does not involve any fresh issue of shares.
The IPO will consist of up to 95,708,984 equity shares, which represents approximately 23.60% of Tata Technologies’ paid-up share capital. Tata Motors currently holds 74.42% of the company, while Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund own 8.96% and 4.48%, respectively.
The IPO comprises of an OFS of up to 81,133,706 equity shares by Tata Motors, 9,716,853 equity shares by Alpha TC Holdings, and up to 4,858,425 shares by Tata Capital Growth Fund I.
Tata Technologies is an engineering unit of Tata Motors that provides services to the automotive, aerospace, industrial heavy machinery, and other industries. As a global product engineering and digital services company, it helps companies converge digital technology and traditional engineering to develop better products.
In the nine-month period ending December 2022, the company reported revenue of Rs 3,011.8 crore, with a growth rate of 15.5% on a year-on-year basis. The company’s profit for the period was Rs 407.5 crore.
This is the second IPO filed by the Tata Group since the listing of TCS in 2004. Earlier in December, satellite TV operator Tata Play had filed ‘pre-filed’ DRHP or confidential IPO papers with SEBI, making it the first company to do so under the new regulations.
About Tata Technologies:
Tata Technologies Ltd, a subsidiary of Tata Motors, is a company within the Tata Group that specializes in engineering and design, product lifecycle management, manufacturing, product development, and IT service management for automotive and aerospace original equipment manufacturers and their suppliers.
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