Tata group firm Tata Technologies raised Rs 791 crore from 67 anchor investors on Tuesday, at the higher end of the Rs 475-500 price band. The firm’s IPO opens for subscription on Wednesday, in what will be the first IPO of a Tata Sons entity for almost 20 years after TCS in 2004.
The issue will remain open for subscription till Friday.
“Tata Technologies, in consultation with the book running lead managers, has finalised allocation of 1,58,21,071 equity shares to anchor investors, at a price of Rs 500 per share,” the company said in its filing to exchanges.
The issue is an ‘offer for sale’ only by promoter Tata Motors, and investors Alpha TC Holdings & Tata Capital Growth Fund I.