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Tata Technologies IPO: Anchor investors subscribe shares worth Rs 791 cr
Tata Technologies
Photo Courtesy: Pixabay

Tata Technologies IPO: Anchor investors subscribe shares worth Rs 791 cr

| @indiablooms | 22 Nov 2023, 02:01 am

Mumbai: Tata Technologies, a global engineering services firm, garnered Rs 791 crore from 67 investors through the anchor book on Tuesday, just a day ahead of the Tata Group's first IPO in nearly two decades. The funds were secured at the upper end of the Rs 475-500 price range, reported Moneycontrol.

"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.

International investors such as Goldman Sachs, Government Pension Fund Global, BNP Paribas Funds, Prudential Assurance Company, HSBC Global, Florida Retirement System, Oaktree Emerging Markets Equity Fund, Brinker Capital Destinations Trust, Great Eastern Life-Singapore Life Insurance Fund, RBC Asia Pacific Ex-Japan Equity Fund, and Copthall Mauritius Investment participated in the anchor book.

On the domestic front, mutual funds and insurance companies including SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life, Aditya Birla Sun Life Trustee, Franklin Templeton Mutual Fund, SBI Life Insurance Company, Kotak Mutual Fund, DSP Mutual Fund, HDFC Life Insurance Company, Mirae Asset Mutual Fund, Bandhan Mutual Fund, Edelweiss Trusteeship, Motilal Oswal Mutual Fund, Sundaram Mutual Fund, Axis Mutual Fund, Canara Robeco Mutual Fund, Kotak Mahindra Life Insurance Company, JM Financial Mutual Fund, Bajaj Allianz Life Insurance Company, and Bharti Axa Life Insurance Company also invested in the Pune-based firm.

The Initial Public Offering (IPO) is set to open for subscription on November 22, with the subscription period concluding on November 24.

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