In a significant shift, Tata Group is set to break its 20-year streak without any initial public offerings (IPO) with the launch of Tata Technologies IPO on November 22. This marks a departure from their long-standing trend and is expected to draw attention from investors.
The IPO subscription window is short, spanning only two days and closing on November 24. Tata Technologies had filed its IPO papers with the Securities and Exchange Board of India (Sebi) in March, receiving approval in June.
Quota For Tata Motors Shareholders
Notably, the IPO includes a reserved 10 percent quota for Tata Motors shareholders.
Tata IPO Bidding Period
The IPO will be open for bidding from Wednesday, November 22, and will conclude on Friday, November 24. The bidding is likely to take place between 10 am to 5 pm on these days.
Tata IPO: Price Band
The price band for the Tata Technologies issue is set at Rs 475 to Rs 500 per share. This valuation places the Tata Group company at over Rs 20,283 crore, calculated based on the upper price band of the IPO.
Tata IPO: Lot Size And Offer Details
Investors can bid for a minimum of 30 shares, requiring a minimum investment of ₹14,250, calculated using the lower price band of ₹475. The IPO aims to raise RS 3,042.51 crore and follows an offer-for-sale (OFS) structure, meaning the funds will not go to the company but to the selling shareholders.