Tata Technologies’ stock rocketed ahead of the IPO, a big win for investors

Tata Technologies stock rockets ahead of IPO - India TV Paisa
Photo: PTI Tata Investment Share

Tata Investment Share: The IPO of Tata Technologies, a Tata Group company, is scheduled to open for general investors on November 22. Earlier, the Tata Group itself has been showering huge amounts of money on share investors. You can gauge its momentum from the fact that the stock has returned 38.80% in the last five days alone. It closed with a gain of 14.46% in today’s trading session as well.

The reason for the boom in Tata investment

According to a report by Moneycontrol, the reason for the increase in Tata’s investment is the IPO of Tata Technologies. Tata Technologies is a subsidiary of Tata Investments and Tata Motors. Due to its IPO, Tata Investment shares have a positive vibe. In Friday’s session, shares of Tata Investments closed with an upper circuit of 20 percent.

Tata Technologies IPO

Tata Technologies IPO will open on November 22 and general investors can invest till November 24. This will be the Tata Group’s first IPO in nearly two decades. Tata Technologies is an engineering-focused research and development (ER&D) company, primarily engaged in the automotive sector.

Tata Tech plans to raise Rs 3,042.51 crore from the IPO, which is entirely OFS. In this, 6.09 crore equity shares will be sold by promoters and investors. Promoter Tata Motors will sell 4.62 crore equity shares worth Rs 2,313.75 crore in OFS, while investor Alpha TC Holdings Pte Ltd will sell 97.17 lakh shares and Tata Capital Growth Fund I will sell 48.58 lakh shares.

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