Tata Technologies IPO starts Tomorrow!: Tata Technologies, a part of Tata Motors, is all set to launch its IPO tomorrow, starting on the 22nd. They’re into engineering, research, and development design, focusing on cool stuff like cars, aerospace, transportation, and heavy machinery. And guess what? This is a huge deal because it’s Tata Group’s first IPO in 20 years—pretty significant, right?
Back in March, Tata Technologies asked SEBI for the green light for their IPO, and they got the nod in June. Originally, they planned to offer 9.57 crore shares, but they later decided on 6.08 crore shares. This basically means some of the big players, like Tata Motors, Alpha D.C. Holdings, and Tata Cable Growth Fund, are shaking things up by selling some of their shares.
Tata Technologies IPO starts Tomorrow
The IPO is happening right now in pre-application mode, and guess what? In the gray market, Tata Technologies’ shares are in high demand, with a premium of Rs 340-345. That’s a whopping 70% more than the share issue price of Rs 475-500. More info about Tata Technologies IPO starts Tomorrow!
Now, what’s a premium? It’s like a bonus—when the share price is higher than what they initially said it would be. And in the world of IPOs, especially in the gray market, this is pretty normal.
And here’s the money talk: In the last financial year (2021-22), Tata Technologies raked in a total revenue of Rs 3,578 crore and made a profit of Rs 436 crore. In just the first 9 months from April to December 2022, they pulled in a cool profit of Rs 407 crore. Exciting times ahead!
