Tata Technologies Limited, a TATA group company and global engineering services company, is set to launch Tata Technologies IPO on November 22, 2023. The company intends to raise approximately Rs 3,042.51 crore through the IPO, which will entirely consist of an offer-for-sale (OFS)** of 6.09 crore shares. The price band for the issue has been set at Rs 475 to Rs 500 per share, with a lot size of 30 shares. The IPO will open for subscription on November 22 and close on November 24.
Here are some key details about the Tata Technologies IPO:
- Issue Type: Offer-for-sale (OFS)
- Price Band: Rs 475 – Rs 500 per share
- Lot Size: 30 shares
- Issue Size: Rs 3,042.51 crore
- Issue Open Date: November 22, 2023
- Issue Close Date: November 24, 2023
- Listing Date: December 5, 2023 (tentative)
The IPO proceeds from an offer-for-sale (OFS) typically do not go to the company itself. Instead, they go to the existing shareholders who are selling their shares in the IPO.However, even though the company itself is not directly receiving the proceeds from the IPO, it can still benefit indirectly from the listing of its shares on the stock market.
The increased liquidity and visibility that comes with being a listed company can make it easier for Tata Technologies to raise capital in the future, both through equity and debt financing. Additionally, the listing can boost the company’s reputation and brand image, which can attract new customers and partners.
Jm Financial Limited, Citigroup Global Markets India Private Limited and Bofa Securities India Limited are the book running lead managers of the Tata Technologies IPO, while Link Intime India Private Ltd is the registrar for the issue.
Factors that make Tata Technologies an attractive investment opportunity:
- Strong track record of profitability and growth
- Leading position in the engineering services industry
- Diversified business across sectors and geographies
- Strong customer base
- Experienced management team
According to market observers, the grey market premium (GMP) for Tata Technologies IPO is ₹367 .
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What is offer for sale IPO?
In an Offer for Sale (OFS), existing shareholders of the company sell their shares to the public. In other words, there is no fresh issue of shares in an OFS. The money raised by an OFS goes to the existing shareholders who are selling their shares.
What is the full form of OFS in IPO?
OFS stands for Offer for Sale. https://iporeviewer.com/difference-between-ipo-and-ofs-explained/
What is the difference between IPO and OFS?
Curious about IPOs and OFS? IPO (Initial Public Offering) is when a company offers its shares to the public for the first time, while OFS (Offer for Sale) is when existing shareholders sell their shares to the public. Learn more about the key differences here: https://iporeviewer.com/difference-between-ipo-and-ofs-explained/ 📊💡
RHP of Tata Technologies IPO
Red Herring Prospectus RHP of TATA Tech IPO can be found on SEBI website