New Delhi, November 14 (Language) The initial public offering (IPO) of Tata Technologies, a company providing digital services related to engineering and product development, will open for bidding on November 22.
The Tata Motors unit had filed a Red Herring Prospectus (RHP) in this regard with the Registrar of Companies, Maharashtra on November 13, 2023. Tata Motors gave this information to the stock market on Monday.
The company said that 6,08,50,278 shares representing 15 per cent of the paid-up equity share capital of Tata Technologies will be offered in the IPO.
Under the IPO, Tata Motors will sell 11.4 percent stake, private equity firm Alpha TC Holdings will sell 2.4 percent stake and Tata Capital Growth Fund-1 will sell 1.2 percent stake.
Tata Motors said the IPO will open on November 22 and close on November 24, 2023.
Bhasha Pandey Ajay