Tata Technologies files DRHP for IPO with Sebi
The Tata Group has filed papers with request controller Sebi to launch the original public immolation (IPO) of Tata Technologies. The IPO is purely an offer for trade by the protagonist Tata Motors and two others being shareholders and does not involve any fresh issue of shares.
” We wish to inform you that Tata Technologies, an attachment of Tata Motors Limited, has informed the company that it has moment filed a draft red herring prospectus dated March 9, 2023 with the Securities and Exchange Board of India for an original public immolation,” Tata Motors said. The IPO is by way of an offer for trade (OFS) of over to 95,708,984 equity shares, representing roughly 23.60% of its paid- up share capital.
As of now, Tata Motors holds 74.42% in Tata Technologies, Alpha TC effects Pte Ltd, a Singapore- grounded investment establishment managed by Tata Capital counsels, owns 8.96%, while Tata Capital Growth Fund owns another 4.48%. The IPO comprises OFS of over to 81,133,706 equity shares by Tata Motors, 9,716,853 equity shares by Alpha TC effects and over to 4,858,425 shares by Tata Capital Growth Fund I, each representing up to 20%, 2.40% and 1.20%, independently of Tata Technologies paid- up share capital.
In December, the Tata Motors board had approved a partial divestment of its stake in Tata Tech through a public pier. The engineering unit of Tata Motors caters to the automotive, aerospace, artificial heavy ministry and others. As a global product engineering and digital services company, it helps companies in confluence of digital technology and traditional engineering to develop better products.
In the nine- month period ending December 2022, the company had reported a profit of Rs 3,011.8 crore, recording a growth of 15.5% on a time- on- time base. The company’s profit for the nine- month period came in at Rs407.5 crore. This is the alternate IPO filed by the diversified empire since the table of TCS in 2004. before in December, satellite television driver Tata Play had filed a’ pre-filed’ DRHP or nonpublic IPO papers with Sebi, the first company to do so under the new regulations.
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In doing so, we’re redeﬁning what the world understands by engineering, and spreading the influence and impact of engineering as humanity’s best way of addressing its most important challenges and opportunities. Our mission: Helping the world to drive, fly, build and farm by enabling our customers to realize better products. Our values: We live by three core values that guide everything we do. That’s how we do better.