Price
The anticipated listing price for the Tata Technologies IPO is expected to be around Rs 1075-1200
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Listing
The IPO is scheduled to be listed on both NSE and BSE on Thursday, November 30.
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Tata Technologies Limited approved the transfer of 60,850,278 Equity Shares to various investors who successfully subscribed to the IPO on November 28, 2023.
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Bids
The IPO, valued at Rs 3,042 crore, received bids totaling over Rs 1.5 lakh crore, resulting in an overall subscription of nearly 70 times the shares on offer.
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Notably, this IPO marks the first from the Tata Group since Tata Consultancy Services in 2004.
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Tata Technologies, a Pune-based global engineering services company, specializes in providing product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier-1 suppliers.
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Growth
Its auto vertical has grown strongly at 44 per cent, 27 per cent and 15 per cent in FY22, FY23 and H1FY24, respectively.
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Tata Tech has traditionally been strong in body engineering, but it is adding capabilities in high-growth areas like EVs development, connected and autonomous cars, and embedded electronics.
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The company should continue to outperform over the coming years considering substantial global positioning and strategic focus towards the EV sector.
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