Tata Technologies on Thursday fixed the price band at Rs 475-500 per equity share for its Rs 3,042-crore initial public offering (IPO). The public issue will open for public subscription on November 22 and close on November 24. The anchor book will be opened for a day on November 21, the company said.
This will be the first company from the Tata Group to float an initial share sale in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004.
The IPO of Tata Technologies is entirely an offer for sale (OFS) of more than 60 million (60,850,278) shares by promoter Tata Motors and investor shareholders Alpha TC Holdings and Tata Capital Growth Fund I. Since the issue is entirely an OFS, the company will not receive any proceed from the off…
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