Tata Technologies Limited, a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers, has filed an addendum to its Draft Red Herring Prospectus ("DRHP") with market regulator Securities and Exchange Board of India ("SEBI").
The Company's initial public offering comprises an offer for sale of up to 95,708,984 equity shares for cash ("Equity Shares").
The offer for sale consists of (a) up to 81,133,706 Equity Shares by Tata Motors Limited, (b) up to 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd. and (c) up to 4,858,425 Equity 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.
The offer now includes a reservation of up to [-] equity shares (constituting up to 0.50% of the post-offer paid-up equity share capital of our company) aggregating up to ?[-] million for subscription by eligible employees (The "Employee Reservation Portion") and a reservation of up to [-] equity shares (constituting up to 10.00% of the offer) aggregating up to ?[-] million, for subscription by eligible Tata Motors Limited shareholders (the "Tata Motors Limited shareholders reservation portion").
Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers ("OEMs") and their tier 1 suppliers. The Company has deep domain expertise in the automotive industry and leverages this expertise to serve clients in adjacent industries, such as in aerospace and transportation and construction heavy machinery. Zinnov has estimated the global engineering, research and development ("ER&D") spend to be approximately $1.64 trillion as of 2021 and expects it to grow to approximately $2.28-2.33 trillion by 2025. Tata Technologies has been recognized as a domain expert and leader by Zinnov for several sectors like automotive, aerospace and electrification services.
JM Financial Limited, Citigroup Global Markets India Private Limited, and BofA Securities India Limited are the Book Running Lead Managers to the issue.