Tata Technologies filed its IPO papers with Sebi in March and got approved by the regulator in June. As part of their policy, Tata Tech has reserved 10 per cent quota for the shareholders of Tata Motors in the IPO.

From price band to allotment date and time, here are 5 things you must know before you subscribe to Tata Technologies IPO.

Tata Tech IPO open and close time

The IPO will be open for bidding on Wednesday, November 22 and will close on Friday, November 24. IPO bidding is most likely set to happen between 10 am to 5 pm on the assigned days.

Price band

The price band for the Tata Technologies issue has been fixed at ₹475- ₹500 per share. The valuation of the Tata Group company has been fixed at over ₹20,283 crore, if calculated by the upper price band of the IPO.

Lot size and offer details

It must be noted that the investors can bid for aminimum 30 shares, which means that the minimum investment must be ₹14,250, if calculated using the lower price band ( ₹475). Through this IPO, Tata Technologies is planning to raise ₹3,042.51 crore. The IPO is offer-for-sale (OFS) only, which means that the money will not go to the company, but the selling shareholders.

Objectives of the IPO

There will be no fresh share sales in Tata Technologies, which means that the company will receive no money from the offer. The objective of the IPO is the list the equity shares on the stock exchange and give an exit to some shareholders.

Which investor is selling the shares?

Tata Motors Ltd is participating in the OFS and is looking to sell up to 4,62,75,000 equity shares of Tata Technologies. Other shareholders are Alpha TC Holdings and Tata Capital Growth Fund-I, who are set to sell 97,16,853 equity shares and 48,58,425 equity shares, respectively.