Tata Tech IPO: 10 key points from RHP you should know about 2023's third largest IPO
Tata Technologies, the third-biggest IPO (in terms of issue size) in 2023, opened for subscription today and will conclude on November 24. The company aims to raise ₹3,042.51 crore through the IPO, which is a complete offer for sale (OFS). The company has set the price band in the range of ₹475–500 apiece.
The quota for retail investors in the Tata Technologies IPO has been fixed at 35% of the net offer. The QIB quota is fixed at 50%, while the quota for NII is reserved at 15%. Retail investors have the opportunity to submit bids for up to 13 lots, with each lot containing 30 shares.
At the upper end of the IPO price band, at ₹500, retail investors are required to make a minimum investment of ₹15,000 per lot. Let us take a look at some of the key points mentioned in the Tata Technologies IPO RHP. Tata Technologies, part of the Tata Group, is a pure-play manufacturing-focused ER&D company primarily focused on the automotive industry, and it is currently engaged with seven out of the top 10 automotive ER&D spenders and five out of the 10 prominent new energy ER&D spenders in 2022.
It has deep domain expertise in the automotive industry and leverages this expertise to serve its clients in adjacent industries, such as aerospace, transportation, and construction heavy machinery (TCHM). Its primary business line is services, which includes providing outsourced engineering services and digital transformation services to global manufacturing clients, helping them conceive, design, develop, and deliver better products. Also Read: Tata Tech expects robust demand from EV and aviation, says CEO The second is Technology Solutions, which includes the Products business, which comprises the reselling of specific software that
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