Mumbai, November 16, 2023: Tata Technologies, a subsidiary of Tata Motors, is all set to launch its highly anticipated initial public offering (IPO) on November 22, 2023. The company aims to raise Rs 3,042.51 crore through the IPO at the upper price band of Rs 500 per share. Here are 10 key things investors should know before subscribing to this Rs 3,042 crore issue:
Tata Technologies is a global engineering services company offering product development and digital solutions to OEMs and their tier 1 suppliers, primarily focused on the automotive industry.
The company also provides education solutions in manufacturing skills through its iGetIT platform.
In the fiscal year ended March 2023, Tata Technologies reported a 42.8% YoY growth in consolidated net profit at Rs 624 crore and a 25% rise in revenue from operations at Rs 4,414.2 crore.
For the six-month period ending September 2023, profit surged 36% to Rs 351.9 crore, and revenue increased by 34% to Rs 2,526.7 crore compared to the same period in the previous year.
8) Lead Managers:
The book-running lead managers for the IPO are JM Financial, Citigroup Global Markets India, and BofA Securities India.
Link Intime India is the registrar.
The company faces risks related to revenue concentration from top customers, client concentration in the automotive segment, dependence on new energy vehicle companies, and negative cash flows.
10) Listing Date:
Trading of Tata Technologies’ shares on the stock exchanges is expected to commence on December 5, 2023, as per the IPO schedule.
Investors are advised to carefully consider these factors and conduct thorough due diligence before subscribing to Tata Technologies’ IPO, which promises to be one of the most significant listings of the year in the Indian stock market.
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