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Tata Technologies, a part of the big Tata family, is ready to do something important on November 22. They are going to start selling some of their shares to the public. This is a big deal because it's the first time in about 20 years that a company from the Tata Group is doing this. The last time was when Tata Consultancy Services (TCS) did it in 2004. People can buy these shares until November 24.
This company, Tata Technologies, works in engineering. They help make things for car and airplane companies. Back in March, they told the Securities and Exchange Board of India that they wanted to sell shares to the public for the first time. This sale is called an Initial Public Offering (IPO). They are planning to sell a lot of shares – about 23.60% of the company.
In this big sale, the company itself will sell up to 46,275,000 shares. There are also two other groups, Alpha TC Holdings and Tata Capital Growth Fund, who will sell some of their shares too.
On November 13, the company told everyone about their plans in a special way. They are selling these shares for cash. The shares are divided into three parts: the company is selling the most, then Alpha TC Holdings, and then Tata Capital Growth Fund. They also decided how to split these shares among different types of buyers. Half will go to big professional buyers, while regular people can buy 35%, and other types of buyers get the rest. There's also a special part of the sale just for certain Tata Motors shareholders.
Before this news, there were talks that Tata Tech might work with some big American finance companies. They were thinking the company could be worth a lot of money, like $2.5 billion.
In other news, Tata Motors, which is like the parent company of Tata Technologies, shared some good financial results on November 2. They made a profit in the last three months because of their British company, Jaguar Land Rover. This is great news because they had lost money in the same period last year.
