Tata Technology’s IPO is going to launch on 22nd November. The price for the IPO has also been decided. A common investor will get only three days to take its subscription. An IPO of Tata Group is coming after 20 years. Experts have high expectations of good earnings from this IPO. If you have also kept money ready in your account, then you must have some important information before taking the subscription.
Tata Tech IPO opening and closing time
Tata Technology IPO will open for bidding or subscription on Wednesday i.e. 22nd November and will close on Friday i.e. 24th November. The IPO bidding is likely to take place between 10 am and 5 pm on the scheduled days.
What is the price band?
The price band for Tata Technologies IPO has been fixed at ₹475-₹500 per share. If calculated from the upper price band of the IPO, the valuation of the Tata group company has been fixed at more than Rs 20,283 crore.
Lot Size and Offers
A common investor can bid for a minimum of 30 shares for Tata Technologies IPO. If calculated on lower price band then you must have at least Rs 14,250. Let us tell you, Tata Technologies is planning to raise Rs 3,042.51 crore through this IPO. An IPO is just an offer-for-sale (OFS), which means the money will not go to the company but to the selling shareholders.
What will happen to the money from IPO?
The company says that there will be no new share sale in Tata Technologies. That means the company will not get any money from the offer. The purpose of IPO is to list equity shares on the stock exchange and also to provide an exit opportunity to some shareholders.
Which investor is selling shares?
Tata Motors Limited is participating in the Offer-for-Sale (OFS). According to the news, Tata is considering selling 4,62,75,000 equity shares of Technologies. The other shareholders are Alpha TC Holdings and Tata Capital Growth Fund-I. It has 97,16,853 equity shares and 48,58,425 equity shares ready for sale.
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