Tata Technologies Ltd allots shares to IPO investors

Tata Technologies Limited, has on November 28, 2023, it has approved transfer of 60,850,278 Equity Shares to various investors who successfully subscribed in the IPO, of which 46,275,000 Equity Shares were offered for sale by the Company, 9,716,853 Equity Shares were offered for sale by Alpha TC Holdings Pte. Ltd. and 4,858,425 Equity Shares were offered for sale by Tata Capital Growth Fund I.

As a result of the above, Tata Motors Ltd's shareholding in Tata Technologies Limited stands reduced from 64.79% to 53.39% (i.e., from 262,844,816 to 216,569,816 Equity Shares), of the issued and paidup Equity Share capital of Tata Technologies Limited.

The offer price was ₹500 per Equity Share of Tata Technologies Limited, aggregating to ₹23,137.50 million for 46,275,000 Equity Shares offered by the Company in the IPO.

Shares of Tata Motors Limited was last trading in BSE at Rs. 697.60 as compared to the previous close of Rs. 673.65. The total number of shares traded during the day was 666111 in over 13046 trades.

The stock hit an intraday high of Rs. 699.45 and intraday low of 674.30. The net turnover during the day was Rs. 460173909.00.

Source : Equity Bulls

Keywords

TataMotors INE155A01022 TataTechnologies StakeReduction SharesAllotment IPOInvestors