Tata Technologies IPO: GMP to how to apply online, know it all here

After Tata Technologies filed a draft red herring prospectus with Sebi to raise funds through an initial public offering (IPO), investors and subscribers are eagerly waiting for the IPO to start. Here is how you can apply for the same online.

Here is all you need to know about the Tata Technologies IPO. (Tata Technologies Website)

Tata Technologies Ltd, a subsidiary of Tata Motors Ltd, on March 10, 2023 filed a draft red herring prospectus with market regulator Sebi for the launch of its initial public offering (IPO). Ever since then market observers, Tata Motors shareholders and investors are eagerly waiting for the IPO to open for subscription. As mentioned in Tata Technologies DRHP, Tata Motors has bought Tata Technologies shares paying Rs. 7.40 per share price and as per the market expectations, market capital of Tata Technologies is expected to be around Rs. 18000 to Rs. 20000 crore, which means one share of Tata Technologies would cost around Rs. 500 apiece, a report by Live Mint stated.

Meanwhile, the grey market is also bullish on Tata Technologies IPO. According to market observers, Tata Technologies share price is trading around Rs. 830 per equity share. Notably, The company is yet to fix IPO price and the opening date of the subscription process. Also, the IPO is purely an offer for sale (OFS), where the company will sell up to 9.57 crore equity shares representing approximately 23.60 percent of its paid-up share capital, according to the Draft Red Herring Prospectus (DRHP). The shares of the company are proposed to be listed on both NSE and BSE.

Objective of the issue

The Selling Shareholders Will be entitled to the entire proceeds of the Offer after deducting their portion of the Offer expenses and relevant taxes thereon. The company will not receive any proceeds from the Offer. The objects of the Offer are to (i) achieve the benefits of listing the Equity Shares on the Stock Exchanges; and (ii) carry out the Offer for Sale of up to 95,708,984 Equity Shares by the Selling Shareholders.

Book running lead managers and Registrar to the IPO

JM Financial Ltd, Citigroup Global Markets India and BofA Securities India are the book running lead managers to the issue. While Link Intime India Private Limited is the registrar to the offer.

If you also want to apply for the Tata Technologies IPO once the subscription process starts, you can do so online. Here is how:

How to subscribe for Tata Technologies IPO online

You can apply for the IPO via Application Supported by Blocked Amount (ASBA) available in your bank account. All you need to do is go to online bank login and then select the Tata Technologies IPO in the invest section and apply for it via your bank account. You can also visit Zerodha, Upstox, among others to apply for the IPO.