In a significant move, Tata Technologies has reserved shares for Tata Motors (NYSE:TTM) shareholders and company employees in its Initial Public Offering (IPO), marking the first offering from the Tata Group since Tata Consultancy Services (NS:TCS)' IPO 17 years ago. This strategic decision involves the offering of 95,708,984 equity shares from entities including Tata Motors.
The IPO is being managed by an array of financial heavyweights, with JM Financial, Citigroup (NYSE:C) Global Markets India, and BofA Securities India at the helm. Part of the offer is specifically reserved for institutional bidders, indicating a focus on attracting large-scale investors to the offering.
The role of IPO registrar is being filled by Link Intime India. Upon completion of the IPO process, the shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), broadening the availability for potential investors.
This move marks a significant milestone for Tata Technologies as it follows in the footsteps of other Tata Group entities in accessing public markets. The decision to reserve shares for Tata Motors shareholders and company employees demonstrates a clear intent to maintain strong ties within the group while expanding its investor base.
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