Tata Technologies IPO
Tata Technologies IPO — date, price band, lot size & details 2023
Tata Technologies listed on 30 Nov 2023 at ₹1,200, 140% above the ₹500 issue price.
Tata Technologies is a global engineering services company offering product development and digital solutions to vehicle makers and their Tier 1 suppliers. Its total income was Rs 4,501.93 crore in FY2023.
Stock price
Tata Technologies is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 22 Nov 2023
- Close 24 Nov 2023
- Allotment 28 Nov 2023
- Refund/credit 29 Nov 2023
- Listing 30 Nov 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 24 Nov, 2023 |
|---|---|
| Price Band | ₹475 – ₹500 |
| Face Value | ₹2 |
| Lot Size | 30 Shares |
| Issue Size | ₹3042.51 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 30 shares at the ₹500 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 30 | ₹15,000 |
| Retail (max) | 13 | 390 | ₹1,95,000 |
| S-HNI (min) | 14 | 420 | ₹2,10,000 |
| S-HNI (max) | 66 | 1,980 | ₹9,90,000 |
| B-HNI (min) | 67 | 2,010 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 2,425.74 crore in FY2021 to Rs 4,501.93 crore in FY2023.
- 02Profit after tax rose from Rs 239.17 crore in FY2021 to Rs 624.04 crore in FY2023.
- 03The source puts the PAT margin at 14.14% and return on net worth at 20.87%.
- 04Net worth was Rs 2,853.13 crore on 30 September 2023.
- 05It has over 20 years of experience in automotive engineering.
Risks · 5
- 01The whole Rs 3,042.51 crore issue was offer for sale, so no money went to the company.
- 02The pre-issue P/E was 32.51 at the upper band of Rs 500, based on EPS of Rs 15.38.
- 03The automotive sector, including group company Tata Motors, drives much of its income, so a slowdown there would hurt its Rs 4,501.93 crore of income.
- 04Engineering services face global competition and wage pressure. Profit was Rs 351.90 crore in the six months to 30 September 2023.
- 05Promoter group holding fell from 66.79% before the issue to 55.39% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Tata Technologies offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 5,142.42 | 5,201.49 | 4,218.00 | 3,572.74 |
| Total Income | 2,587.42 | 4,501.93 | 3,578.38 | 2,425.74 |
| Profit After Tax | 351.90 | 624.04 | 436.99 | 239.17 |
| NET Worth | 2,853.13 | 2,989.47 | 2,280.16 | 2,142.15 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Tata Technologies RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Tata Technologies IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹15.38 | ₹17.35 |
| P/E Ratio (x) | 32.51 | 28.82 |
| Market Cap at Offer Price (₹ Cr) | ₹11,440.18 | ₹10,141.21 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹500 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Tata Technologies IPO will be updated shortly.
About the company
With over two decades of experience, it has deep automotive expertise and also serves aerospace and transportation and construction heavy machinery clients. It uses a globally distributed delivery model that balances onshore presence with offshore efficiency.
Its services business covers outsourced engineering and digital transformation, and its technology solutions business resells third-party product lifecycle software with consulting and support. Its promoter is Tata Motors Limited.
The IPO was Rs 3,042.51 crore and was entirely an offer for sale by Tata Motors, Alpha TC Holdings and Tata Capital Growth Fund I, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Tata Technologies IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ACME Solar Holdings (-13.1%).
Bofa Securities India Limited
25 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: SBI Cards (-12.5%).
Citigroup Global Markets India Pvt. Ltd
29 issues handledBest listing: Nykaa (+79.4%). Weakest: Kalyan Jewellers India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tata Technologies?
The current Grey Market Premium is ₹400, or 80% over the issue price.
What is the Tata Technologies IPO price band?
₹475 to ₹500, on a face value of ₹2.
When is the allotment?
The basis of allotment is 28 November 2023, with listing on 30 November 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
