highlights
Tata Tech’s IPO date has not yet been set.
This stock is offered for sale in its entirety.
Tata Tech is a subsidiary of Tata Motors.
New Delhi. Tata Technologies’ IPO has received approval from market regulator SEBI. This will be Tata Group’s first IPO in 19 years. Tata Group’s IPO is just around the corner, so there’s a lot of excitement in the market about it. The timing of the IPO is yet to be determined, but the premium has already arrived on the gray market. Investors are watching Tata Group’s first IPO in nearly two decades.
Tata Technologies is a subsidiary of Tata Motors. The Tata Group’s last IPO was that of Tata Consultancy Services or TCS in July 2004. This will be the Tata Group’s first public offering in 19 years. It is well received and investors are taking it hand in hand. Analysts expect the company to go public in five to six months.
Also read this – Tata Motors became 16th largest automaker, share price is rocketing and set to surpass 700 rupees
How much does GMP cost?
Tata Technologies’ IPO is trading at a gray market premium, or GMP, of Rs. 100 per share, according to IPO Watch. According to those with knowledge of unlisted securities, there have been instances of bulk buying around the Rs 750 mark. Tata Technologies filed documents related to the IPO with SEBI in March this year. This edition falls entirely under the offer for sale, i.e. Offer for Sale (OFS). This means that the company will not issue any new shares. The company’s existing shareholders will sell their shares.
how many shares will come onto the market
Shareholders will sell units valued at 9.57 crore as part of the offering. This is 23.60 percent of the company’s paid-up share capital. Tata Motors plans to sell 81,133,706 shares through the IPO. Alpha TC Holdings Pte plans to sell 97.16 lakh shares (2.40%) and Tata Capital Growth Fund I plans to sell 48.58 lakh shares (1.20%).
When is the IPO coming?
Tata Technologies IPO in the primary market could happen in the next 5 to 6 months. According to reports, the scope of the IPO has not yet been announced.
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FIRST RELEASED : July 12, 2023 at 11:04 AM IST
