te Tata Technologies IPO: Firm rakes in Rs 791 crore from anchor investors ahead of public issue | Zee Business

Tata Technologies IPO: Firm rakes in Rs 791 crore from anchor investors ahead of public issue

Anchor investors who were issued the company’s equity ahead of the public issue include Fidelity Funds, the SBI Multi-Allocation Fund, the SBI Technology Opportunities Fund, and the ICICI Prudential Midcap Fund, among others. A total of 67 anchor investors have been allocated a total of 15,821,071 equity shares in the company.

Tata Technologies IPO: Firm rakes in Rs 791 crore from anchor investors ahead of public issue
The filing by the company provided that 17 domestic mutual funds have applied through a total of 39 schemes, with scheme-wise details.

Tata Technologies IPO: Ahead of the much-awaited public issue of the company that opens today (November 22), the engineering and product development company on Tuesday informed exchanges that it raked in Rs 791 crore from anchor allotment.

This will be the first company from the Tata Group to float an initial public offering (IPO) in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004.

The company allotted 1.58 crore equity shares to 67 funds at Rs 500 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website.

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In its earlier filing with the exchanges with the company, the company’s board, in consultation with JM Financial Limited, Citigroup Global Markets India Private Limited, and BofA Securities India Limited (“Book Running Lead Managers”), finalised the allocation of 15,821,071 equity shares to anchor investors at the anchor investor allocation price of Rs 500 per equity share (including a share premium of Rs 498 per equity share).

Anchor investors who were issued the company’s equity ahead of the public issue include Fidelity Funds, the SBI Multi-Allocation Fund, the SBI Technology Opportunities Fund, and the ICICI Prudential Midcap Fund, among others. A total of 67 anchor investors have been allocated a total of 15,821,071 equity shares in the company.

The filing by the company provided that 17 domestic mutual funds have applied through a total of 39 schemes, with scheme-wise details.

Written By: Roshni Agarwal
Updated: Wed, Nov 22, 2023
08:51 am
ZeeBiz WebDesk
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