Tata Tech IPO: Tata Group company’s IPO will come after 18 years, papers submitted to SEBI, check issue details
Tata Tech IPO: Tata Tech provides product engineering and digital services to the auto, industrial heavy machinery, and aerospace industries. It offers related businesses with products and services such as engineering, R&D, digital enterprise solutions, education programs, value-added reselling, and IT product lifecycle management services.
Tata Tech IPO: Another Tata Group company is preparing to list in the domestic market. Its tech company Tata Technologies has filed a draft with the market regulator SEBI (Securities and Exchange Board of India) to raise money through IPO. The issue will be fully Offer for Sale (OFS) and under this, existing promoters and shareholders will sell 9.57 crore shares. Tata Play, another company of Tata Group, is also preparing to launch an IPO. Whichever company issues first, it will be Tata Group’s first IPO in 18 years.
Tata Tech IPO details
The Tata Technologies issue will be a pure offer for sale—Tata Motors 8.11 crore under this issue. Alpha TC Holdings will sell 97.2 lacks and Tata Capital Growth Fund 1 will sell their respective equity shares of 48.6 lacks. Tata Motors holds a 74.69 percent stake in Tata Tech, Alpha TC Holdings holds 7.26 percent and Tata Capital Growth Fund 1 holds 3.63 percent. JM Financial, BofA Securities, and Citigroup Global Markets India are the lead managers of the issue.
Tata Tech Company details
Tata Tech provides product engineering and digital services to the auto, industrial heavy machinery, and aerospace industries. It offers related businesses with products and services such as engineering, R&D, digital enterprise solutions, education programs, value-added reselling and IT product lifecycle management services. It employs more than 11,000 employees across 18 delivery centers in the US, Europe, India, China, Japan, and Singapore.
Tata Tech is mainly dependent on Tata Group for its business. It gets the most business from Tata Motors and Jaguar Land Rover. However, it is increasing its business outside the Tata group as well and from 46 percent in FY2020 to 64 percent in FY2022. Talking about the financial health of the company, it achieved a revenue of Rs 3011.79 crore and a net profit of Rs 407.47 crore in April-December 2022. It received 88.43 percent of its revenue from the service segment.
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