According to reports, Tata Technologies is in talks with Morgan Stanley Investment Management, BlackRock and some American hedge funds to invest in the IPO. Also, according to a report, Tata Tech is in talks with American asset managers Ghisello Capital, Oaktree Capital and Key Square Capital to invest in the IPO.
Tata Tech IPO: Great news about Tatas IPO! 10 percent shares are reserved for special investors
Tata Technologies’ IPO is expected to open for subscription around November 21. That means the IPO can open in the last week of November.
Notably, in the IPO of Tata Technologies, up to 10 percent equity stake may be reserved for the shareholders of Tata Motors Limited. In such a scenario, those who already own Tata Motors shares can easily get shares in the IPO. Also, some shares in this IPO may be reserved for employees of the company. Post-offer up to 0.50 per cent of equity shares may be reserved for employees.
Under this IPO, the company can issue 9,57,08,984 shares. The IPO also received approval from SEBI on 28 June. Tata Motors owns 74.69 percent stake in Tata Tech. According to reports, this IPO will have a minimum reserve of 35% for retail investors. Also, there will be a minimum reserve of 15 percent for non-institutional investors as well.
What can be the price per share in IPO?
The company has not yet disclosed the share price of Tata Technologies. However, according to some experts, the price per share of this IPO may be 268-300 rupees.
Learn more about Tata Technologies’ business
Tata Technologies is a subsidiary of Tata Motors. It serves the engineering industry. Tata Tech currently operates in many countries around the world. The company has 11000 employees worldwide.
Earlier Tatras last appeared with an IPO in 2004. Then the company appeared with the IPO of TCS. Tata Group is coming up with an IPO after almost 19 years. From which the investors are expecting profit.