Tata Technologies IPO: The offer price of Tata Technologies has been fixed at Rs 500 per share

Tata Technologies, a prominent provider of engineering and product development digital services, has concluded its Initial Public Offering (IPO) with the offer price set at Rs 500 per equity share. This announcement was made by Tata Motors, the parent company of Tata Technologies, following a highly successful IPO.

Also Read: Tata Technologies IPO GMP

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The IPO, which aimed to raise Rs 3,042.5 crore, witnessed extraordinary investor enthusiasm, with the subscription rate reaching a remarkable 69.43 times the offered shares on the final day of subscription. This overwhelming response was largely driven by institutional investors showing strong interest in Tata Technologies’ growth potential.

In a regulatory filing, Tata Motors stated, “Tata Technologies Ltd, in consultation with the book-running lead managers to the IPO, has finalized the offer price, including the anchor investor offer price, at Rs 500 per equity share of face value of Rs 2 each.” The public offering initially had a price band of Rs 475-500 per share, and the finalization of the offer price at the upper end of the band reflects strong market confidence in the company.

Also Read: Moneycontrol Interviews Amit Jain: Tata Technologies IPO’s Potential as a Multi-Year Growth Story

The IPO comprises a total offering size of Rs 3,042.51 crore, which includes an offer for sale of 4.63 crore equity shares by Tata Motors, amounting to Rs 2,313.75 crore, 97.17 lakh equity shares by Alpha TC Holdings Pte Ltd, totaling Rs 485.84 crore, and 48.58 lakh equity shares by Tata Capital Growth Fund I, amounting to Rs 242.92 crore. The allotment of shares is subject to the finalization of the basis of allotment, as mentioned in the regulatory filing.

The overwhelming response from investors saw bids for 3,12,64,91,040 shares received against the 4,50,29,207 shares on offer, as per data from the National Stock Exchange (NSE).

Also Read: Tata Technologies IPO: Tata Technologies Limited IPO Detail

Notably, Tata Technologies’ IPO marks a significant milestone for the Tata Group, as it is the first company from the conglomerate to go public in nearly two decades. The last IPO from the Tata Group was Tata Consultancy Services (TCS) in 2004. This move reflects the group’s strategic decision to unlock value and tap into the growing market appetite for technology and digital services companies.

Tata Technologies, with its IPO successfully concluded, is now poised for its next phase of growth and expansion in the digital engineering and product development services sector. The company’s strong financials and the positive market sentiment surrounding its offering suggest a promising future for this Tata Group subsidiary.

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