The IPO, which is a first from the Tata Group in nearly two decades, will have an offer for sale of up to 60.9 million shares from existing shareholders, including Tata Motors.

The offering will open for bids for anchor investors on Nov. 21, while retail investors can make offers between Nov. 22 to Nov. 24.

Reuters last week reported that Tata Technologies is in talks with Morgan Stanley Investment Management, Blackrock and some U.S. hedge funds to invest in its IPO at a valuation of $2.5 billion.

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