Tata Technologies LTD IPO .

Are you looking for an exciting investment opportunity in the engineering services sector? If yes, then you might want to check out the Tata Technologies IPO, which is opening for subscription on November 22, 2023 and closing on November 24, 2023. Tata Technologies was established in 1994 as a subsidiary of Tata Motors.

Tata Technologies is a leading global engineering services company offering product development and digital solutions to global original equipment manufacturers (OEMs) in the automotive, aerospace, and industrial machinery sectors. The company has a workforce of over 11,000 employees spread across 18 global delivery centres and serves clients in 27 countries.

The Tata Technologies IPO is entirely an offer for sale (OFS) of 6.08 crore equity shares by the selling shareholders, including promoter Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund. The price band for the IPO is set at Rs 475 to Rs 500 per share, valuing the company at around Rs 20,000 crore. The issue size has been reduced from an earlier 9.57 crore shares to 6.08 crore shares now.

The Tata Technologies IPO holds significance as it marks the Tata Group’s return to the IPO market after nearly two decades. The last IPO from the Tata Group was Tata Consultancy Services (TCS) in 2004, which was a huge success. Tata Technologies is also a profitable and fast-growing company, with a revenue CAGR of 30% and an EBITDA CAGR of 46% over FY 2021-23. The company clocked a 15% year-on-year (YoY) growth in revenue at Rs 3,052 crore for the nine-month period ended December 2022.

The Tata Technologies IPO has reserved a 10% quota for Tata Motors’ eligible shareholders. The grey market premium for the IPO is around Rs 270-285, indicating a strong demand and positive sentiment for the issue. The allotment for the Tata Technologies IPO is expected to be finalized on November 30, 2023 and the tentative listing date is December 5, 2023.

If you are interested in applying for the Tata Technologies IPO, you can visit the website of Finowings,- https://www.finowings.com/IPO/tata-technologies-limited-ipo

Don’t miss this chance to be a part of the Tata Technologies growth story and Invest in the Tata Technologies IPO. Hurry up and apply before the issue closes on November 24, 2023.

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