Tata Group's IPO coming after 18 years: Tata Technologies filed DHRP with SEBI
Tata Group's IPO coming after 18 years: Tata Technologies filed DHRP with SEBI, Tata Motors holds a 74% stake in this company
Tata Technologies, a subsidiary of Tata Motors, has filed a draft red herring prospectus with the Securities Exchange Board of India (SEBI) for an initial public offering (IPO). This IPO will be completely offer-for-sale (OFS). Under this, the shareholders and existing promoters of the company are going to sell 9.57 crore shares.
Tata Group is bringing an IPO after almost 18 years. Earlier in the year 2004, the IPO of Tata Consultancy Services (TCS) came. Through the IPO, Tata Motors has planned to sell 8.11 crore, Alpha TC Holdings 97.2 lakh and Tata Capital Growth Fund has planned to sell 48.6 lakh shares.
Tata Motors holds a 74% stake in Tata Technologies. Alpha TC Holdings holds 7.26% and Tata Capital Growth Fund 1 holds 3.63%. The company generated a revenue of Rs 3011.7 crore in the nine months that ended December 31, 2022.
Whereas in the same period of 2021, the company's revenue from operation was Rs 2607.3 crore. In addition, the company reported a profit of Rs 407.4 crore for the nine months that ended December 31, 2022. While it was Rs 331.3 crore in the same period of the last financial year.
Tata Technologies is a global product engineering and digital services company. The CEO of the company is Warren Harris. There are a total of 11,081 employees (10,161 full-time and 920 contracted). The company has 18 global delivery centers in North America, Europe and the Asia-Pacific region, including Pune (headquartered), Gurgaon, Bangalore, Thane and Chennai in India.