Tata Technologies IPO to raise around ₹3043 crores via IPO that comprises an offer for sale up to 60,850,278 equity shares of ₹2 each. The retail quota is 35%, QIB is 50%, Shareholders Quota is 10%, and HNI is 15%. Tata Technologies Eligibility date for Share Holders Quota is November 13, 2023. If the shareholder holds Tata Motors stock as of November 13, 2023, in their demat account, they will able to appear in the shareholder quota in the Tata Technologies IPO.
Tata Technologies IPO GMP is active and looks very strong; the Tata IPO is to list on premium as per the market speculations and the grey market indicates. Investors should closely watch the daily updates of Tata Technologies IPO GMP.
Tata Technologies Peer group companies are KPIT Technologies Limited, L&T Technology Services Limited, and Tata Elxsi Limited. Tata Motors Limited is the promoter of the company. Link Intime India Private Limited is the registrar while the Lead Managers and Merchant Bankers are JM Financial Ltd, BofA Securities, and Citigroup Global Markets India Pvt Ltd.
Tata Technologies is the 15th largest IT company in the Fortune India Infotech Industry ranking. They operate from 25 countries with a workforce of more than 11000 employees, and around 4000 professionals worldwide. The company is headquartered in Pune, and regionals are headquartered in the USA. Tata Technologies is a part of the Tata Group, which has been recognized as the most valuable brand in India by Brand Finance, a leading international brand valuation agency (Source: Brand Finance India 100 2022 report). As a subsidiary of Tata Motors Limited (“TML”), they benefit from long-term relationships with both TML and JLR. The long-standing engagements with TML and JLR (collectively, their “Anchor Clients”) have enabled the incubation of skills and capabilities that have assisted us in pursuing opportunities outside of the Tata Group.
FAQ – Tata Technologies Limited
(1) How much can an Eligible Employee Invest??
Eligible Employees Bidding in the Employee Reservation Portion can Bid up to a Bid Amount of ‘ ‘500,000. However, a Bid by an Eligible Employee Bidding in the Employee Reservation Portion will be considered for allocation, in the first instance, for a Bid Amount of up to ‘200,000. In the event of under-subscription in the Employee Reservation Portion, the unsubscribed portion will be available for allocation and Allotment, proportionately to all Eligible Employees Bidding in the Employee Reservation Portion who have Bid in excess of ‘200,000, subject to the maximum value of Allotment made to such Eligible Employee not exceeding ‘500,000. Further, an Eligible Employee Bidding in the Employee Reservation Portion can also Bid in the TML Shareholders Reservation Portion and also in the Non-Institutional Portion or the RIB Portion and such Bids will not be treated as multiple Bids. T he unsubscribed portion if any, in the Employee Reservation Portion shall be added back to the Net Offer. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the Employee Reservation Portion.
(2) How much can an eligible TML Shareholders apply?
Eligible TML Shareholders Bidding in the TML Shareholders Reservation Portion can Bid up to a maximum Bid Amount of ‘200,000. Further, Eligible TML Shareholders Bidding in the TML Shareholders Reservation Portion can also Bid in the Employee Reservation Portion and also in the Non-Instituional Portion or the RIB Portion, and such Bids will not be treated as multiple Bids. Further, any unsubscribed portion remaining in the TML Shareholders Reservation Portion shall be added back to the Net Offer. In case of under-subscription in the Net Offer, spill-over to the extent of such under-subscription shall be permitted from the TML Shareholders Reservation Portion, subject to applicable law..
(3) What will happen if the bid is submitted in Joint Names?
In the event that a Bid is submitted in joint names, the relevant Bidders should ensure that the depository account is also held in the same joint names and the names are in the same sequence in which they appear in the Bid cum Application Form. The Bid cum Application Form should contain only the name of the First Bidder whose name should also appear as the first holder of the beneficiary account held in joint names. The signature of only such First Bidder would be required in the Bid cum Application Form and such First Bidder would be deemed to have signed on behalf of the joint holders. Our Company reserves the right to reject, in its absolute discretion, all or any multiple Bids in any or all categories.
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