DelhiDesk Tata Technologies, a company of Tata Group, has filed a Draft Red Herring Prospectus (DRHP) with SEBI for its IPO after 18 years. Existing shareholders, including Tata Motors Alpha TC Holdings and Tata Capital Growth Fund-I, can sell up to 9.571 crore shares. This news has increased the pace of shares of Tata Motors, and the price of the stock of Rekha Jhunjhunwala, a well-known investor, has seen a rise of 25%. Tata Motors will reduce its stake through this IPO, and it is believed that the rise in the shares of Tata Motors can be seen even further.
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👉 Tata Technologies, a company of Tata Group, files DRHP with SEBI for IPO after 18 years.
👉 Existing shareholders, including Tata Motors Alpha TC Holdings and Tata Capital Growth Fund-I, can sell up to 9.571 crore shares.
👉 The news has increased the speed of shares of Tata Motors.
👉 Total stake of Tata Motors in Tata Technologies was only 74.69 percent.
👉 The pace of shares of Tata Motors has gained momentum since the company approached SEBI for the IPO.
👉 The price of Tata Motors stock has seen a rise of 25 percent.
👉 IPO offer of Tata Technologies is in the nature of a fall sale.
👉 Existing investors will reduce their stake in exchange for new shares.
👉 Tata Motors has decided to reduce its stake through this IPO.
👉 The rise in the shares of Tata Motors can be seen even further.
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