Tata Technologies, a Tata Motors arm, has established the price band for its IPO at Rs 475-500 per share, with an IPO window from November 22 to November 24, 2023.
The IPO comprises an offer for sale of 60.85 million shares, with a minimum lot size of 30 shares per application.
The company’s valuation at the upper end of the price band will be around Rs 20,283 crore, with an IPO size of Rs 3,042.5 crore.
Compared to the unlisted market, the IPO’s upper price band is approximately 47% lower, as the stock currently trades at Rs 950 per share.
While Tata Technologies’ net worth surged from Rs 2,142.5 crore (March 2021) to Rs 2,853.13 crore (September 2023), its profit after tax decreased from Rs 624 crore (March 2023) to Rs 352 crore (September 2023).