Private Equity

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Tata Tech's Rs.3,043-Cr IPO subscribed nearly 70 times

Economic Times  

The INR 3,043-crore initial public offer (IPO) of Tata Technologies was subscribed nearly 70 times. The quota reserved for retail individual investors (RIIs) was subscribed 16 times, qualified institutional buyers 203 times, and non-institutional investors (NIIs) 62 times. The IPO was priced at INR 500 per equity share (face value of INR 2 each). The size of IPO aggregates to INR 3,042.51 crore, comprising an offer for sale of 46,275,000 equity shares amounting to INR 2,313.75 crore. Of this, 9,716,853 equity shares are being sold by Alpha TC Holdings Pte. Ltd amounting to INR 485.84 crore and 4,858,425 equity shares by Tata Capital Growth Fund I amounting to INR 242.92 crore. Tata Technologies offers a range of services including IT consultancy, SAP implementation, CAD/CAM engineering and design consultancy. It generates 80% from services, 11% from products and 9% from education as of FY23. It has 12,451 employees and posted a revenue of INR 2,523 crore in 6MFY24.