Tata Technologies IPO Released, Things All You Need to Know

Tata Group is making a comeback in the market after almost two decades with the initial public offering (IPO) of Tata Technologies Limited. The IPO, open for bidding until November 24, 2023, has set a price band of ₹475 to ₹500 per equity share. The company aims to raise ₹3,042.51 crore through this 100% offer for sale (OFS) on BSE and NSE.

Key Tata Technologies IPO Highlights:

1. Opening and Closing Date: The IPO is live now and will accept bids until November 24, 2023, providing investors an opportunity to participate until Friday this week.
2. IPO Price: Tata Technologies has fixed the issue price at ₹475 to ₹500 per equity share.
3. Issue Size: The company plans to raise ₹3,042.51 crore through this IPO, entirely through the offer for sale (OFS) mechanism.
4. Lot Size: Investors can apply in lots, with one lot comprising 30 company shares.
5. Investment Limit: With the price band set at ₹475 to ₹500 per equity share, a retail investor needs a minimum of ₹15,000 (₹500 x 30) to apply for the Tata Technologies IPO.
6. Allotment Date: Following the T+3 schedule, the allocation of shares is expected on either November 27 or 28, 2023.
7. Listing Details: The IPO is slated for listing on both BSE and NSE.
8. Listing Date: Anticipated to follow the T+3 schedule, the IPO is expected to be listed on the third trade session after closure, potentially on November 29, 2023.