Tata Technologies Ltd., a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to make an initial public offering by way of an offer for sale of up to 95,708,984 equity shares for cash, representing approximately 23.60% of its paid-up share capital (IPO).
The offer for sale comprises of up to 81,133,706 shares by Tata Motors Ltd., up to 9,716,853 Shares by Alpha TC Holdings Pte. Ltd. and up to 4,858,425 Shares by Tata Capital Growth Fund I, each representing up to 20%, 2.40% and 1.20%, respectively of Tata Technologies paid-up share capital.
For the nine-month ended December, the firm reported a revenue from operations of ₹3,011.79 crore against ₹2,607.30 crore in the year-earlier period, representing growth of 15.5%.
Net profit for the nine months ended December 2022 stood at ₹407.47 crore versus ₹331.36 crore.
