Tata Technologies’ initial public offering will begin accepting subscriptions on November 22, according to Tata Motors late Monday. This will be the first Tata Group IPO in over two decades.
Tata Technologies, a supplier of engineering and product development digital services, said its IPO will consist of 60.9 million shares, or 15% of its paid-up capital.
Tata Technologies IPO Details
| Parameter | Details |
|---|---|
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | November 30, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹475 to ₹500 per share |
| Lot Size | 30 Shares |
| Total Issue Size | 60,850,278 shares |
| (aggregating up to ₹3,042.51 Cr) | |
| Offer for Sale | 60,850,278 shares of ₹2 |
| (aggregating up to ₹3,042.51 Cr) | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 405,668,530 shares |
| Shareholding Post-Issue | 405,668,530 shares |
Tata Technologies IPO Timeline (Tentative Schedule)
| Event | Date |
|---|---|
| IPO Open Date | Wednesday, November 22, 2023 |
| IPO Close Date | Friday, November 24, 2023 |
| Basis of Allotment Date | Tuesday, November 28, 2023 |
| Initiation of Refunds Date | Wednesday, November 29, 2023 |
| Credit of Shares to Demat Date | Wednesday, November 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
| Listing Date | Thursday, November 30, 2023 |
Tata Technologies IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor | 15,821,071 (26.00%) | NA |
| QIB | 10,547,382 (17.33%) | NA |
| NII (HNI) | 7,910,537 (13.00%) | |
| – NII > ₹10L | 5,273,691 (8.67%) | 12,556 |
| – sNII < ₹10L | 2,636,846 (4.33%) | 6,278 |
| Retail | 18,457,919 (30.33%) | 615,263 |
| Employee | 2,028,342 (3.33%) | NA |
| Other | 6,085,027 (10.00%) | NA |
| Total | 60,850,278 (100%) |
Tata Technologies IPO Lot Size
| Application Type | Lots Range | Shares Range | Amount Range |
|---|---|---|---|
| Retail (Min) | 1 lot | 30 shares | ₹15,000 |
| Retail (Max) | 13 lots | 390 shares | ₹195,000 |
| S-HNI (Min) | 14 lots | 420 shares | ₹210,000 |
| S-HNI (Max) | 66 lots | 1,980 shares | ₹990,000 |
| B-HNI (Min) | 67 lots | 2,010 shares | ₹1,005,000 |
Tata Technologies Limited Financial Information (Restated Consolidated)
| Period Ended | Assets (₹ Cr) | Revenue (₹ Cr) | Profit After Tax (₹ Cr) | Net Worth (₹ Cr) | Reserves and Surplus (₹ Cr) | Total Borrowing (₹ Cr) |
|---|---|---|---|---|---|---|
| 30 Sep 2023 | 5,142.42 | 2,587.42 | 351.90 | 2,853.13 | 2,455.29 | |
| 31 Mar 2023 | 5,201.49 | 4,501.93 | 624.04 | 2,989.47 | 2,605.60 | |
| 31 Mar 2022 | 4,218.00 | 3,578.38 | 436.99 | 2,280.16 | 2,028.93 | |
| 31 Mar 2021 | 3,572.74 | 2,425.74 | 239.17 | 2,142.15 | 1,897.46 |
Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 20.87% |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (Rs) | 15.37 | |
| P/E (x) | 32.53 | 28.82 |
Tata Technologies IPO Subscription Status (Bidding Detail)
| Category | Subscription (times) |
|---|---|
| QIB | 203.41 |
| NII | 62.11 |
| – bNII (>₹10L) | 70.67 |
| – sNII (<₹10L) | 44.98 |
| Retail | 16.50 |
| Employee | 3.70 |
| Others | 29.20 |
| Total | 69.43 |
Tata Technologies IPO Prospectus
- Tata Technologies IPO DRHP (Draft Red Herring Prospectus)
- Tata Technologies IPO addendum to DRHP
- Tata Technologies IPO RHP (Red Herring Prospectus)
- Anchor Investors in Tata Technologies IPO
Tata Technologies IPO Listing Details
| Listing Detail | Information |
|---|---|
| Listing Date | November 30, 2023 |
| BSE Script Code | 544028 |
| NSE Symbol | TATATECH |
| ISIN | INE142M01025 |
| Final Issue Price | ₹500 per share |
Listing Day Trading Information
| Exchange | Price Details |
|---|---|
| BSE | Final Issue Price: ₹500.00 |
| Open: ₹1,199.95 | |
| Low: ₹1,199.95 | |
| High: ₹1,400.00 | |
| Last Trade: ₹1,314.25 | |
| NSE | Final Issue Price: ₹500.00 |
| Open: ₹1,200.00 | |
| Low: ₹1,200.00 | |
| High: ₹1,400.00 | |
| Last Trade: ₹1,313.00 |
Tata Technologies Limited Contact Details
- Tata Technologies Limited
Plot No. 25,
Rajiv Gandhi Infotech Park Hinjawadi,
Pune 411 057
Phone: +91 20 6652 9090
Email: ipo@tatatechnologies.com
Website: http://www.tatatechnologies.com/
Tata Technologies IPO Registrar
- Phone: +91-22-4918 6270
- Email: tatatechnologies.ipo@linkintime.co.in
- Website: https://linkintime.co.in/initial_offer/public-issues.html
Tata Technologies IPO – Buy or Not
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 18 | 0 | 0 |
| Members | 26 | 1 | 0 |
This is less than the 23.6% stated in the draft prospectus.
Tata Motors will sell an 11.4% interest, private equity company Alpha TC Holdings will sell a 2.4% stake, and Tata Capital Growth Fund I will sell a 1.2% stake.
The IPO concludes on November 24th.
According to Reuters, Tata Technologies is in negotiations with Morgan Stanley Investment Management, Blackrock, and other US hedge funds about investing in its $2.5 billion IPO.
Tata Motors said last month that it will sell a 9% share in Tata Technologies to a fund managed by US private equity firm TPG in a deal valued at about $2 billion.
