Tata Technologies sets IPO price band at Rs 475-500
时间:2024-06-26 21:13:36 阅读(143)
Tata Technologies on Thursday fixed the price band at Rs 475-500 per equity share for its Rs 3,042-crore initial public offering (IPO). The public issue will open for public subscription on November 22 and close on November 24. The anchor book will be opened for a day on November 21, the company said.
This will be the first company from the Tata Group to float an initial share sale in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004.
The Pune-based ER&D company has reserved more than 2 million equity shares for its employees and more than 6 million shares for shareholders of Tata Motors. After deducting the shares reserved, the size of the offer comes to approximately 52.7 million equity shares.
Parent Tata Motors will offload more than 46.2 million shares worth Rs 2,313.75 crore. Alpha TC Holdings will be selling more than 9.7 million shares worth Rs 485.84 crore and Tata Capital Growth Fund I will offload more than 4.8 million shares worth Rs 242.92 crore.
The company has reserved half of the offer size for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% for retail investors.
According to the red herring prospectus (RHP), Tata Motors has a stake of 64.79% in Tata Technologies. In between the filings of the draft red herring prospectus and the RHP, Tata Motors sold about 9.9% of its stake. Tata Motors sold 36.5 million shares to TPG Rise Climate SF Pte at Rs 401.81 per share, valuing the transaction at Rs 1,467 crore.
JM Financial, Citigroup Global Markets India and BofA Securities India are the investment bankers to the issue.
上一篇:Xiaomi announces HyperOS for India; roll out to begin with these devices this month
下一篇:Wipro stock tech pick- Brokerage recommends ‘Buy’, cites higher bottom formation; check target price
猜你喜欢
- Petrol and diesel price May 24- Fuel cost unchanged; Check prices in Delhi, Mumbai, other cities here
- Adani Enterprises, Keystone Realtors, M&M Financial, Biocon, PVR, Can Fin Homes stocks in focus on F&O expiry
- Zomato, Archean Chemicals, Five Star Business Finance, Tata Motors, NDTV, Jet Airways stocks in focus
- Adani Group shares beat Nifty- Which Gautam Adani stock gave investors best returns in 2022-
- Ola Cab’s parent sees revenue uptick, loss reduction
- Zomato leads the fall in new-age stocks
- Zee Entertainment- Outlook positive for ad revenue and subscription
- 13 reasons why you might want to buy Redmi Note 13 Pro Plus — but should you-
- Will Nifty begin Week with gains or fall in trade- See GIFT Nifty, FII data, F&O ban, crude, more before market opens