Tata Tech IPO: GMP, issue details, all we know so far for this much awaited issue

livemint.com:

Tata Motors subsidiary. Dalal Street spectators are eagerly expecting the start of the Tata Technologies IPO subscription date now that the market regulator SEBI (Securities and Exchange Board of India) has given the go-ahead to the company. The Tata Technologies IPO date is anticipated to take place at the end of August or in the middle of September 2023, according to stock market experts.

As a result, Tata Technologies IPO subscription may start in the next month. Also Read: TVS Supply Chain IPO allotment expected today, what does GMP signal? The objectives of the offer, according to Tata Tech IPO Draft red herring prospectus (DRHP), are to carry out Offer for Sale (OFS) of up to 95,708,984 equity shares by the selling shareholders and reap the benefits of listing the equity shares on public exchanges. The shares are proposed to be listed on BSE, NSE.

"Further, our Company expects that the proposed listing of its Equity Shares will enhance our visibility and brand image as well as provide a public market for the Equity Shares in India," said the Tata Group company in its DRHP. JM Financial Ltd, Citigroup Global Markets India Private Ltd, and BofA Securities India Ltd are the issues book running lead managers (BRLM), and Link Intime India Private Ltd is the registrar to the offer. The company in its DRHP stated that the price band and offer price will be determined by them, in consultation with the BRLM, on the basis of assessment of market demand for the equity shares offered through the Book Building Process and on the basis of quantitative and qualitative factors as described below.