• HINDI
  • JaiTV
  • Login
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
No Result
View All Result
Home BUSINESS FINANCE

Tata Technologies Raises ₹791 Crore from Anchor Investors

by Ayushi
November 22, 2023
in FINANCE
Tata Group’s engineering services company Tata Technologies has raised ₹791 crore from 67 investors via anchor book on Tuesday, November 21, a day before its IPO opens for bidding.
X (Twitter)FacebookWhatsappTelegram

Tata Technologies, the engineering services company under the Tata Group, has successfully raised ₹791 crore from 67 investors through an anchor book, just a day before its highly anticipated Initial Public Offering (IPO) opens for bidding. This marks a significant development as it hits the upper limit of the ₹475-500 price range set by the company for the IPO.

 

In a filing to exchanges, Tata Technologies stated, “the company in consultation with the book running lead managers has finalised allocation of 1,58,21,071 equity shares to anchor investors, at a price of ₹500 per share.” The IPO, scheduled to open on November 22, will remain open for bidding until November 24.

RelatedPosts

Digital Gold vs Physical Gold : Which is Better

Want To Boost Your Credit Score Easily : What You Should Know

Transparency in Personal Loan Fees and Charges : What You Should Know

 

This IPO is particularly noteworthy as it represents the first public offering from a Tata Group company in almost two decades. The company aims to raise ₹3,042.51 crore through this IPO, which is entirely an offer for sale (OFS) in nature. Tata Technologies has reserved 20.28 lakh equity shares for its employees and 60.85 lakh shares for Tata Motors shareholders. The net issue of the IPO, excluding the portions allocated to employees and shareholders, constitutes the overall offering.

 

Qualified institutional buyers (QIBs) have been allocated 50% of the total offer size, with 15% earmarked for high net worth individuals (HNIs). The remaining 35% is set aside for retail investors, providing a diverse participation opportunity in the IPO.

 

Market analysts are closely watching the IPO, noting that Tata Technologies shares are trading at a substantial 70% premium in the grey market, which serves as an informal platform for trading IPO shares until their official listing. Despite volatile trends in the market, the grey market premium (GMP) for Tata Technologies IPO remains steady at ₹351, reflecting sustained investor interest.

 

The IPO allotment date for Tata Technologies is expected on November 27, 2023, while the listing date is anticipated to be on November 29, 2023.

 

Arihant Capital has given an ‘apply’ recommendation for the public offer. They highlight Tata Technologies’ diverse services, including IT consultancy, SAP implementation, and CAD/CAM engineering and design consultancy. The revenue breakdown shows a robust mix, with approximately 80% from services, 11% from products, and 9% from education.

 

Strong partnerships with industry leaders like Dassault and Siemens, coupled with the use of Microsoft AZURE products, position Tata Technologies for global expansion. Recent empanelment by Airbus signals significant growth potential for the company. The revenue and profit after tax (PAT) of Tata Technologies have demonstrated a compound annual growth rate (CAGR) of 36% and 62%, respectively, from FY21 to FY23. In the first half of FY24, there was a 34% and 36% year-on-year growth in revenue and PAT.

 

Arihant Capital suggests that Tata Technologies has outpaced competitors such as Tata Elxsi, L&T Technologies, and KPIT Technologies in revenue CAGR over the last three years. At an upper band valuation of ₹500, the issue is valued at a price-to-earnings (PE) ratio of 32.5x based on FY23 earnings per share (EPS). The recommendation encourages investors to subscribe to the IPO for potential short-term listing gains as well as long-term investment prospects.

Tags: AirbusArihant Capitalequity sharesfundraisinggrey market premiuminitial public offeringIPOPrice Rangestock marketTata GroupTata TechnologiesTechnology Services
Previous Post

IndiGo Apologizes as 8 Transit Passengers Miss Onward Flight

Next Post

Germany Freezes Public Spending Amid Constitutional Challenge

Related Posts

Digital Gold vs Physical Gold : Which is Better

May 14, 2025
Want To Boost Your Credit Score Easily : What You Should Know

Want To Boost Your Credit Score Easily : What You Should Know

March 15, 2025
Transparency in Personal Loan Fees and Charges : What You Should Know

Transparency in Personal Loan Fees and Charges : What You Should Know

March 14, 2025
ETF vs Mutual Funds : Key Differences Every Investor Should Know

ETF vs Mutual Funds : Key Differences Every Investor Should Know

September 27, 2024
Types of Car Insurance Coverages in India

Types of Car Insurance Coverages in India

September 27, 2024
Exploring the Pros and Cons of Fixed Deposits

Exploring the Pros and Cons of Fixed Deposits

September 25, 2024
Next Post
The stop on public spending, which follows a constitutional court ruling, complicates Europe’s recovery and rearmament plans as the region battles climate change and geopolitical threats.

Germany Freezes Public Spending Amid Constitutional Challenge

Recent News

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

May 29, 2025

Digital Gold vs Physical Gold : Which is Better

May 14, 2025
Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

April 29, 2025
TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

April 26, 2025
Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

April 22, 2025
What Indian Car Lovers Can Expect from the VinFast VF 6

What Indian Car Lovers Can Expect from the VinFast VF 6

April 17, 2025
  • ABOUT
  • CONTACT
  • PRIVACY
  • ADVERTISE
  • Hindi – हिंदी
FOLLOW US

© Ganga News Today

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
DTV
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • SPORTS
  • FASHION
  • HEALTH
  • PEOPLE

© Ganga News Today

Go to mobile version