Price Band:
Tata Technologies has announced the price band for investors seeking to bid on the offer. The price band ranges from Rs 475-500 a share with a face value of Rs 2.
Bidding Dates:
Tata Tech, an arm of Tata Motors, will open for subscription for retail investors on Wednesday, November 22, and close on Friday, November 24.
The anchor investors can bid on Tuesday, November 21.
Lot Size:
A retail investor can bid for at least one lot consisting of 30 equity shares at Rs 15,000 (Rs 500*30) and multiple of 30 shares not exceeding the bar of Rs 2,00,000.
Share Allocation:
Tata Tech IPO has allotted a quota of 50% of the shares in the IPO to Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII) have 15%, and 35% of the offer is for Retail Investors.
The employee reservation portion has in store up to 2,028,342 equity shares, while Tata Motors Ltd shareholders have a reserve for 6,085,027 equity shares.
IPO Size:
At the upper end of the price band, Tata Tech IPO will pull in funds worth ₹3,042.51 crore.
IPO Make-Up:
Tata Tech is coming with an IPO, which is entirely an Offer For Sale (OFS) of up to 60,850,278 equity shares, diluting a portion of up to 46,275,000 equity shares by the company. Alpha TC Holdings Pte. Ltd. will offload 9,716,853 equity shares and Tata Capital Growth Fund I will let go of up to 4,858,425 equity shares.
Lead Managers:
JM Financial Limited, Citigroup Global Markets India Private Limited, and Bofa Securities India Limited are the book-running lead managers (BRLM) for the maiden share sale.