New Delhi: Tata Technologies has announced that it has approved transfer of Equity Shares to various investor who successfully subscribed in the Tata Technologies IPO.
Tata Motors, in a regulatory filing today informed, “Pursuant to Regulation 30 of the SEBI LODR Regulations and further to our intimation vide letters bearing sc nos. 17057, 17287, 17914 and 17935 dated December 12, 2022, March 9, 2023, November 13, 2023 and November 25, 2023, respectively, in relation to the IPO of Tata Technologies Limited, we wish to inform you that the Company has been informed by Tata Technologies Limited, that on November 28, 2023, it has approved transfer of 60,850,278 Equity Shares to various investors who successfully subscribed in the IPO, of which 46,275,000 Equity Shares were offered for sale by the Company, 9,716,853 Equity Shares were offered for sale by Alpha TC Holdings Pte. Ltd. and 4,858,425 Equity Shares were offered for sale by Tata Capital Growth Fund I.”
As a result of the above, the Company’s shareholding in Tata Technologies Limited stands reduced from 64.79% to 53.39% (i.e., from 262,844,816 to 216,569,816 Equity Shares), of the issued and paidup Equity Share capital of Tata Technologies Limited, it added.
Tata Technologies IPO: What Will Be Expected Listing Price? Expert Comments
Vaibhav Kaushik, Research Analyst at GCL Broking said that the listing premium may be about 75-80 percent above the issue price of Rs 500 per share.
“In light of the immense growth potential in outsourcing, the business model would be in huge demand in the future. The grey market as well is signalling a listing premium of 80-82 per cent higher than the issue price,” added Kaushik.
Kaushik said that one can predict the opening price or listing price could range at about Rs 875-900, with the reasons being cited by the experts include the company’s credible leadership, robust health of the finances, good IPO subscription figures, and a promising future outlook in the engineering services.