Tata Technologies, initially incorporated as Core Software Systems in New Delhi on August 22, 1994, is a leading global engineering services company. It offers product development and digital solutions, including turnkey solutions, to global original equipment manufacturers and their tier-1 suppliers.
| Bidding Dates |
|---|
| 22 Nov 2023 - 24 Nov 2023 |
| Subscription |
|---|
| 69.43x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,250 | 1 | 13 | 30 | 60.9 M | ₹475 - ₹500 | 55.39 % | ₹28903.9 M - ₹30425.1 M | RHP DOC |
Tata Technologies IPO SUBSCRIPTION STATUS
24 Nov '23Tata Technologies IPO overall subscription rate was 69.43 times the total available shares
Tata Technologies IPO retail subscription rate was 16.5 times in the retail segment
Tata Technologies IPO non-institutional investor subscription rate was 62.11 times in the non-institutional investor category
Tata Technologies IPO Qualified Institutional Bidder subscription rate was 203.41 times the available shares for Qualified Institutional Bidder
Tata Technologies IPO Employees subscription rate was 3.7 times in the Employees category
Tata Technologies IPO Reservation Portion Shareholder subscription rate was 29.19 times in the Reservation Portion Shareholder category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees | Reservation Portion Shareholder |
|---|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - | - |
24 Nov 2023 (Day 3) | 16.5x | 62.11x | 203.41x | 3.7x | 29.19x |
23 Nov 2023 (Day 2) | 11.2x | 31.04x | 8.55x | 2.36x | 20.04x |
22 Nov 2023 (Day 1) | 5.44x | 11.69x | 4.08x | 1.1x | 9.31x |
Tata Technologies FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 3,519.0 | 25,267.0 | -78.2 | -552.2 | 18.4% |
| H1FY23 | 2,590.6 | 18,879.1 | 1,684.4 | 1,360.9 | 19.7% |
| FY23 | 6,240.4 | 44,141.8 | 4,013.8 | 3,361.6 | 18.6% |
| FY22 | 4,369.9 | 35,295.8 | -386.8 | -1,015.6 | 18.3% |
| FY21 | 2,391.7 | 23,809.1 | 11,128.9 | 10,991.5 | 16.2% |
Tata Technologies IPO SUBSCRIPTION STATUS DETAILS
Tata Technologies had 60.9 M shares on offer
Tata Technologies IPO offer price was in the range ₹475 - ₹500
Tata Technologies IPO minimum Investment was ₹14250
Tata Technologies IPO issue size was ₹ 28903.9 M - ₹ 30425.1 M
Tata Technologies had a minimum lot size of 30 Shares per application
Tata Technologies NUMBER OF SHARES ON OFFER
Tata Technologies IPO IMPORTANT DATES
| Issue Open Date | 22 Nov 2023 |
| Issue close Date | 24 Nov 2023 |
| Allotment Date | 28 Nov 2023 |
| Refund Date | 29 Nov 2023 |
| Demat Account Credit Date | 29 Nov 2023 |
| Listing Date | 30 Nov 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Tata Technologies Allotment Status | Exchange |
Tata Technologies IPO subscription opened on 22 Nov 2023, and closed on 24 Nov 2023
IPO allotment for Tata Technologies was finalized on Tuesday, 28 Nov 2023
IPO listing for Tata Technologies was on NSE and BSE on Thursday, 30 Nov 2023
Tata Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 500.0 |
| Listing Open Price | 1200.0 |
| Listing Close Price | 1313.0 |
| Listing Gain% | 140.0% |
| Current Gain% | 69.9% |
Tata Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Technologies Ltd. | 849.4 | 34455.5 | 61.9 | -3.3 | 5.8 | 13.9 | 6.1 | 5680.1 | 7.3 | 546.6 | -19.3 | 13.7 | -18.7 |
| RateGain Travel Technologies Ltd. | 926 | 10969.7 | 45.3 | 3 | 4.7 | 9.7 | 5.5 | 1884.9 | 63.5 | 194.4 | -7 | 20.5 | 15.1 |
| Intellect Design Arena Ltd. | 705.7 | 9898.6 | 28 | 453.8 | 3.1 | 10.9 | 7.5 | 3160.8 | 22.7 | 345.4 | 3.8 | 25.2 | 0.1 |
| Capillary Technologies India Ltd. | 521.6 | 4151.7 | 98.6 | 5.1 | 5.1 | 4 | 748.3 | 22.3 | 52.4 | 294.5 | 5.3 | ||
| Aurionpro Solutions Ltd. | 718 | 3967.8 | 19.5 | 3.9 | 2.8 | 12 | 9 | 1440.4 | 20.7 | 209.3 | 12.4 | 36.9 | 5.1 |
| Zaggle Prepaid Ocean Services Ltd. | 200.5 | 2695.9 | 19.5 | 0.3 | 1.4 | 9.8 | 8.9 | 1945.6 | 46.2 | 138.1 | 57.1 | 10.3 | 57.1 |
Tata Technologies IPO Reports
Tata Technologies INFORMATION ON IPO ISSUE
About Tata Technologies
Tata Technologies, initially incorporated as Core Software Systems in New Delhi on August 22, 1994, is a leading global engineering services company. It offers product development and digital solutions, including turnkey solutions, to global original equipment manufacturers and their tier-1 suppliers.
Object of the Issue
- To achieve the benefits of listing equity shares on the stock exchanges
- To carry out the offer for sale of up to 6,08,50,278 equity shares by the selling shareholders
Tata Technologies - PROMOTERS
| Name |
|---|
| Tata Motors |
Tata Technologies Book Running Lead Managers
JM Financial Limited
ttl.ipo@jmfl.com
Tata Technologies Book Running Lead Manager
Citigroup Global Markets India Private Limited
tatatechipo@citi.com
BofA Securities India Limited
dg.gcib_in_tatatechnologies_ipo@bofa.com
Tata Technologies Registrar to the Offer
Link Intime India Private Limited
tatatechnologies.ipo@linkintime.co.in
Tata Technologies Strengths
Expertise
The company's expertise in the automotive domain and its thorough grasp of client needs guide its approach. This enables clients to effectively leverage digital technologies in conceiving, developing, manufacturing, selling, and servicing their new products
End-to-end solutions for EV market
The company's comprehensive solutions for EV development, manufacturing, and after-sales services aim to assist OEMs in creating competitive electric vehicles. These solutions are designed to maintain a balance between cost, quality, and timelines
Marquee set of clients
The company has a diversified global presence across Asia Pacific, Europe, and North America, partnering with many of the world's largest manufacturing enterprises. As of December 31, 2022, its clients include over 35 traditional automotive OEMs and tier 1 suppliers, as well as more than 12 new energy vehicle companies
Well-recognized brand with experienced promoter
The company benefits from the strong track record, reputation, and experience of its promoter, Tata Motors, which is part of the Tata Group. The Tata Group is one of the leading businesses in India, boasting a heritage of over 100 years
Tata Technologies Risks
Dependent on promoter and few clients
The company continues to derive a significant portion of its revenues from its top five clients by revenue generated in Fiscal 2022. This includes Tata Motors (Promoter), some of its subsidiaries, and JLR
Highly dependent on automotive segment
The company's revenues are significantly dependent on clients within the automotive segment. Therefore, an economic slowdown or any adverse factors impacting this sector may negatively affect the business
Legal proceedings
The company, its directors, subsidiaries, and promoter are involved in outstanding legal proceedings. Any adverse decisions in these matters could negatively impact the company's cash flows and profit or loss
Negative cash flows
The company has experienced negative cash flows in the past and may continue to face similar challenges in the future
IPO FAQs
This IPO consists of an offer for sale of up to Rs 3,042.5 crore, of 60,850,278 shares.
The promoter of the company is Tata Motors.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 475.0 - 500.0.
The IPO application opens on Nov 22, 2023 and closes on Nov 24, 2023.
The minimum lot size for the IPO is 30. The maximum lot size for the IPO is 390.
For all category investors, the minimum application amount for this IPO is Rs. 14,250.0, the maximum value for this IPO is Rs 195,000.0.
This IPO will be allotted on Nov 28, 2023.
The refund will be credited to your account on Nov 29, 2023.
The allotted shares will be credited to your demat on Nov 29, 2023.
Tata Technologies Ltd.’s shares listed on the stock exchanges on Nov 30, 2023.