The Rs 3,042.5 crore IPO of Tata Technologies, which provides engineering and product development digital services, was subscribed 69.43 times on the final day of subscription on Friday.
JLR, a key customer for Tata Technologies, could have been impacted by Brexit-related uncertainties, feared the private equity major
Tata Investment Corporation has an opportunity of value unlocking from Tata Technologies IPO, according to analysts.
The surge in Tata Investment share price also comes after the company announced the appointment of senior management personnel
Ahead of its planned $350-375 million IPO, Tata Technologies is holding talks with U.S asset managers Ghisallo Capital, Oaktree Capital and Key Square Capital, as well as Blackrock and Morgan Stanley for possible participation in the deal.
Tata Technologies’ revenue CAGR over the last three years has far exceeded that of its peers Tata Elxsi, L&T Technologies and KPIT Technologies
The company filed its preliminary Initial Public Offer (IPO) papers with the SEBI in March.
The partnership will drive Jaguar Land Rover’s new fully connected, digital industrial strategy with Tata Technologies providing cloud-based Enterprise Resource Planning (ERP) software solutions.
Since TCS in 2004, no company from the Tata Group has made a debut on the domestic bourses. Tata Autocomp Systems shelved a $260 mn IPO and earlier this month, Tata Play ( earlier called Tata Sky) filed for a confidential pre-filing of offer documents.