Tata Technologies has set the price band of its initial public offer at Rs 475-500 per share. At the upper end of the price band, the size of the Tata Motors’ arm’s IPO will stand at Rs 3,042.5 crore, while the company will be valued at Rs 20,283 crore.
The minimum lot size for an application is 30 shares.
Tata Technologies will launch its initial public offering on November 22 and close of November 24. This will be the first maiden share sale by a Tata group firm in nearly two decades. The last IPO from India’s most valuable conglomerate was that of Tata Consultancy Services in 2004.
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Financially, Tata Technologies‘ net worth has grown from Ra 2,142.5 crore at the end of March, 2021, to Rs 2,853.13 crore at the end of September 2023. Its profit after tax climbed to Rs 624 crore at the of the March 2023 from Rs 239 crore at the end of March 2021. However, the profit fell to Rs 352 crore at the end of September 2023.
First Published: Nov 16 2023 | 9:09 AM IST