Tata Motors' Subsidiary, Tata Technologies, Finalizes Offer Price For IPO At ₹500 Per Equity Share

Tata Motors' Subsidiary, Tata Technologies, Finalizes Offer Price For IPO At ₹500 Per Equity Share

The shares of Tata Motors Limited on Friday at 3:30 pm IST closed at Rs 673.50, down by 0.95 percent.

FPJ Web DeskUpdated: Saturday, November 25, 2023, 12:57 PM IST
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Tata Motors' Subsidiary, Tata Technologies, Finalizes Offer Price For IPO At ₹500 Per Equity Share | Image: Tata (Representative)

Tata Technologies Limited, a subsidiary of Tata Motors Limited, has finalized the pricing for its initial public offering (IPO) of equity shares at Rs 500 per Equity Share with a face value of Rs 2 each, the company on Saturday announced through an exchange filing.

This announcement, made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, comes after several earlier intimations by Tata Motors regarding the IPO.

Accordingly, the size of IPO aggregates to Rs 30,425.14 million, comprising of an offer for sale of 46,275,000 Equity Shares by the Company amounting to Rs 23,137.50 million, 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd. amounting to Rs 4,858.43 million and 4,858,425 Equity Shares by Tata Capital Growth Fund I, amounting to Rs 2,429.21 million, subject to finalization of basis of allotment, said in the regulatory filing.

Furthermore, Tata Technologies Limited has informed Tata Motors that the Prospectus, dated November 24, 2023, has been filed with the Registrar of Companies, Maharashtra at Pune (ROC) on November 25, 2023, adhering to the Companies Act, 2013, and other relevant laws and regulations.

Tata Motors Limited shares

The shares of Tata Motors Limited on Friday at 3:30 pm IST closed at Rs 673.50, down by 0.95 percent.

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