Tata Technologies Limited, a subsidiary of Tata Motors Limited, has informed the company that it has today filed a draft red herring prospectus dated March 9, 2023 with the Securities and Exchange Board of India for an initial public offering by way of an offer for sale of up to 95,708,984 equity shares for cash, according to an exchange filing.
The shares represent approximately 23.60% of the paid-up share capital of the IPO.
The disclosure is pursuant to Regulation 30 of the SEBI LODR Regulations and further to our intimation bearing sc no. 17057 dated December 12, 2022
The IPO comprises of an offer for sale of:
(a) up to 81,133,706 equity shares by Tata Motors Limited,
(b) up to 9,716,853 equity shares by Alpha TC Holdings Pte. Ltd. and
(c) up to 4,858,425 equity shares by Tata Capital Growth Fund I, each representing up to 20%, 2.40% and 1.20%, respectively of Tata Technologies paid-up share capital.
