The most awaited Tata Technologies IPO is set to open for public subscription on November 22 and will remain open until November 24, according to The Economic Times report.
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The report added that this IPO is exclusively an offer for sale, presenting up to 6.08 crore equity shares. This offering size has been scaled down from the previously planned 9.57 crore shares. The pricing range for the issue is expected to be announced shortly.
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As per the company’s filing on NSE, ‘We now wish to inform you that the Company has been informed by Tata Technologies Limited that it has filed today, the RHP dated Monday, November 13, 2023 with the Registrar of Companies, Maharashtra at Pune . This IPO is an Offer For Sale (“Offer”) of upto 60,850,278 equity shares for cash (“Equity Shares”), comprising of offer for (a) up to 46,275,000 Equity Shares by the Company; (b) up to 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd.; and (c) up to 4,858,425 Equity Shares by Tata Capital Growth Fund I, each representing up to 11.41%, 2.40%, and 1.20%, respectively of the paid-up Equity Share Capital of Tata Technologies Limited.This IPO provides, inter alia, a reservation of up to 6,085,027 Equity Shares, i.e., 10% of the Offer, for subscription by eligible shareholders of TML’
