TATA TECHNOLOGIES LIMITED FILES DRHP WITH SEBI

Mumbai, 10th March 2023 (GNI): Tata Technologies Limited, leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers, has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The Company’s initial public offering by way of an offer for sale of up to 95,708,984 equity shares for cash (“Equity Shares”), representing approximately 23.60% of its paid-up share capital (“IPO”).

The offer for sale comprises of (a) up to 81,133,706 Equity Shares by Tata Motors Limited, (b) up to 9,716,853 Equity Shares by Alpha TC Holdings Pte. Ltd. and (c) up to 4,858,425 Equity Shares by Tata Capital Growth Fund I, each representing up to 20%, 2.40% and 1.20%, respectively of Tata Technologies paid-up share capital. 

Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (“OEMs”) and their tier 1 suppliers. The Company has deep domain expertise in the automotive industry and leverages this expertise to serve clients in adjacent industries, such as in aerospace and transportation and construction heavy machinery. Zinnov has estimated the global engineering, research and development (“ER&D”) spend to be approximately $1.64 trillion as of 2021 and expects it to grow to approximately $2.28-2.33 trillion by 2025. Tata Technologies has been recognized as a domain expert and leader by Zinnov for several sectors like automotive, aerospace and electrification services.

For the nine month ended December 2022, the firm reported a revenue from operations of Rs 3,011.79 crore against Rs 2607.30 crore for nine months ended December 2021, representing growth of 15.5%. Net profit for 9MFY23 period stood at Rs 407.47 crore versus Rs 331.36 crore for 9MFY22. The Company’s Adjusted EBITDA margins have grown consistently over the years – from 16.50% in FY20, to 19.20% in 9MFY23.

JM Financial Limited, Citigroup Global Markets India Private Limited, and BofA Securities India Limited are the Book Running Lead Managers to the issue. DRHP Link:https://jmfl.com/docs/default-source/default-document-library/draft-red-herring-prospectusb765bb81d5a0683b8507ff0300a28ed8.pdf?sfvrsn=0

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