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Tata Technologies IPO And Why It Is Important For Tata Motors
Tata Motors’ arm, Tata Technologies filed papers with the market regulator SEBI on March 10th to start an initial public offering (IPO) and raise funds. This resulted in a surge in Tata Motors shares. Under this public issue, Tata Motors plans to sell 8,11,33,706 Tata Technologies shares that the auto major acquired at ₹7.40 apiece. So, from the Tata Technologies IPO, Tata Motors is expected to get big gains. The market has gone bullish on Tata Motors share price.
About Tata Technologies IPO
Tata Technologies Limited (TTL) was founded in 1989. It is a global product engineering and digital services company. It focuses on fulfilling its mission of helping the world drive, build, fly, and farm by enabling global OEMs. And their ecosystem of partners across the automotive, aerospace, industrial machinery, and adjacent verticals to engineer, manufacture, and release better products, as well as helping them drive efficiencies in their businesses.
The company has major offices in 17 countries and over 7,900 employees with over 5,000 clients. As per the Tata Technologies website, it was originally founded as a business unit of Tata Motors. In 1994 it started off as an independent business unit, headquartered in Singapore. The company began initiating operations in India in 1996.
Tata Technologies IPO
The IPO consists of a pure offer for sale (OFS) of up to 95.71 million shares. Tata Motors is offering up to 81.13 million shares, or a 20% stake in the company. Tata Capital Growth Fund I offering up to 4.86 million shares (1.20%), and Alpha TC Holdings Pte offering up to 9.72 million shares (2.40%).
Currently, Tata Motors holds a 74.69 percent stake in the company, while Alpha TC Holdings Pte and Tata Capital Growth Fund I hold 7.26 percent and 3.63 percent stakes, respectively.
The company’s shares are proposed to be listed on both the NSE and the BSE, according to a TOI report.
IPO impact on Tata Motors shares
Talking about the impact of Tata Technologies on Tata Motors share price, Head of Research at Profitmart Securities, Avinash Gorakshkar, said,
“Tata Technologies is an IT company and Tata Motors has stake in this IT company that has applied to SEBI for its IPO. The IPO is expected to receive good response from investors due to the big name Tata being attached with the public issue. For Tata Motors, Tata Technologies IPO is going to bring cash flow as they acquired Tata Technologies shares at ₹7.40 per share (as written in the Draft Red Herring paper or DRHP).”
Gorakshkar revealed that the company has not yet fixed the IPO price. The Tata Technologies IPO price would be at least 4-5 times the rate at which Tata Motors acquired a stake in Tata Technologies.
Hence, Avinash Gorakshkar said that Tata Motors is expected to reap a huge benefit from Tata Technologies IPO.
The Vice President of Research at IIFL Securities, Anuj Gupta spoke about how Tata Technologies IPO would benefit Tata Motors share price in the near term. He said,
“With Tata Technologies IPO, Tata Motors is going to book profit and hence cash flow in Tata Motors will go up after Tata Technologies share listing. In Q3FY23 results, Tata Motors beat the market estimates by big margin that has put Tata Motors shares in uptrend. This uptrend is expected to go further northwards after re-opening in China as it has big exposure in JLR sales in Chinese market. Hence, Tata Motors is expected to improve its balance sheet in upcoming quarter due to strong business outlook and Tata Technologies IPO is going to work as icing on the cake in near term.”
How will the Tata Technologies IPO benefit Tata Motors?
As per reports, Tata Motors will be able to improve its finances and reduce its debt by selling its equity stake in Tata Technologies. Tata Motors has cumulatively invested Rs 224.1 crore in Tata Technologies.
Speaking about debts, the company has reported a net loss in the last four consecutive years since 2018–19. Tata Motors suffered losses over the years due to its Jaguar Land Rover (JLR) unit and the poor financial performance of its domestic business.
Importance of the Tata Technologies IPO
After Tata Consultancy Services (TCS) which started in 2004. Tata Technologies is likely to be the first Tata Group company to go public in India after 19 years. Tata Technologies is also the 15th-largest IT company in the Fortune India Infotech Industry ranking.
Tata Play (formerly Tata Sky) is also expected to go for IPO this year.
The company recently announced several corporate actions. Each share of Tata Technologies, with a face value of Rs 10, was divided into five shares of Rs 2. They were recently divided in a 1:5 ratio. The company thereafter announced a bonus issue in a 1:1 ratio. Hence, talking about Tata Technologies share price, each share of the company was turned into 10 shares effectively.
As per the TOI report, Link Intime India has been appointed as the registrar for the issue. JM Financial, Citigroup Global Markets India, and BofA Securities India are the book-running lead managers to the issue.
Tata Technologies IPO price
On the expected Tata Technologies IPO price, Head of Capital Market Strategy at Sharekhan by BNP Paribas, Gaurav Dua, said,
“Listing of Tata Technologies, subsidiary of Tata Motors, could unlock value for shareholders. Though the pricing is still not clear yet but the street expects the company to list at M-Cap of around Rs18000 crore. Consequently, it could roughly add ₹35 to ₹40 per share in SoTP valuation of Tata Motors.”
Tata Technologies IPO details
The issue is an offer for sale (OFS), under which shareholders will offload up to 9.57 crore equity shares, representing 23.60% of its paid-up share capital. The size of the IPO was not disclosed. Tata Technologies’ recent buyback valued the company at Rs 16,080 crore. Experts calculated that the size of the offer could be Rs 3,800 crore.
The objectives of the OFS include that the company will not receive any proceeds from the OFS from the selling shareholders. Each of them will be entitled to the respective proportion of the proceeds of the IPO after deducting their portion of the offer-related expenses and the relevant taxes thereon.
Tata Motors share price outlook
Expecting a strong rally in Tata Motors shares, Anuj Gupta of IIFL Securities said,
“Tata Motors share price has strong support at ₹420 apiece levels and those who have this stock in their portfolio can hold the stock with stop loss below ₹420 per share levels. Those who want to buy Tata Motors shares can buy this auto stock at current levels for short to medium term target of ₹490 to ₹500 per share maintaining strict stop loss below ₹420 levels.”
Offer structure
50% of the offer is reserved for qualified institutional buyers (QIBs), 35% of the issue is reserved for retail investors, and 15% is reserved for non-institutional investors.
As per reports, Tata Technologies has a paid-up share capital of Rs 811.83 crore and an authorized share capital of Rs 350 crore.
Tata Technologies’ financial condition
According to the DRHP, in the nine months (of the current financial year) ended Dec. 31, 2022. Tata Technologies’ revenue marked a 15.30% year-on-year growth to Rs 3,052.95 crore. The contribution of the services segment is 88% of the total revenue. The net profit increased 22.82% year-on-year to Rs 407.46 crore.
Disclaimer: The recommendations, suggestions, views, and opinions given by the experts (individual analysts or broking companies) are their own. These do not represent the views of Postoast. We advise investors to check with certified experts before taking any investment decisions.
Also read: 25 Lesser-Known Facts About Ratan Tata That Will Make You Respect Him More
News
Rohit Sharma And Rahul Dravid Accused Of Manipulating ODI World Cup 2023 Final Pitch
As the Rohit Sharma-led Indian team faced a heartbreaking defeat in the ODI World Cup 2023 final at the Narendra Modi Stadium in Ahmedabad, billions of dreams were crushed. For many Indian fans, even after months, India’s loss at the hands of Australia in the ODI World Cup Final remains fresh.
To reach the final the Indian team had to go through a ten-match winning streak which kept the hopes high up that the team would be able to break the ICC title drought since 2013. India hosted the ICC ODI World Cup 2023 and throughout the tournament their performance was praiseworthy.
An important factor that was a topic of discussion surrounding the Indian team’s defeat was the condition of the pitch
A few factors suggested that the pitch was rigged for the game to be in India’s favor. In the following days, the nature of the pitch in the World Cup final was heavily discussed. Many believed that one of the major reasons behind India’s loss in the final was the slowness of the pitch. Former India batter Mohammed Kaif was a part of the broadcasting team in the tournament.
Mohammed Kaif made a shocking revelation that Rohit Sharma and Rahul Dravid were involved in the pitch’s preparation
Kaif claimed that the captain Rohit and head coach Rahul Dravid Kaif claimed would visit the pitch on all three days leading up to the World Cup final. He also mentioned that he saw the “colour” of the pitch continuing to change.
Kaif disclosed on Guest in the Newsroom on TheLallanTop,
I was there for three days, did a lot of shows. Rohit Sharma came in the evening with Dravid, went to the pitch, stood there for an hour and went back. They came again on the second day, and did the same thing. This went on for three days, and I saw the colour of that pitch change. I wore a blue shirt today, it would look yellow three days later… that was the extent of that change
The former India batter also revealed,
“No watering, no grass. It became a very slow pitch. This is the truth. There were Cummins and Starc, they bowled quick, and the thought was to give them a slow pitch, and they did make a mistake there. People say ‘curator did his job, we didn’t say anything’. Sab bakvaas hai (It’s all rubbish). You were roaming there, you are talking to him 100. ‘Ghaas kam karo, paani kam daalna,” do line hi toh bolni hain (Don’t use too much grass, don’t water it. You just have to say two lines). And there’s nothing wrong in that, you are the home team, take advantage. But we didn’t use it properly”
Many were surprised by India’s decision to bat first after Australia’s captain Pat Cummins won the toss
Cummins’ sharp reading of the pitch, played a key role in Australia executing their plans flawlessly and restricting India to 240.
Kaif continued,
“Cummins had the learning from the first match against India in Chennai. He had won the toss and batted first, and India won the game easily in the run-chase. In the final, teams usually don’t opt for fielding. We did that in 2003 and we lost. But Cummins learned from that and chased, irrespective of the occasion”
He also added,
“If it was a normal pitch… the form that Mohammed Shami, Jasprit Bumrah, Ravindra Jadeja, Kuldeep Yadav were in.. they were in great touch! If we had a flat pitch, 100% we would have won. Ham wicket me doctoring karne ke chakkar me phas gaye (We doctored the wicket, and that led to our loss)”
It really seems that the Indian team messed up while doctoring the pitch.
News
Here’s Why Ashish Nehra Didn’t Stop Hardik Pandya From Leaving Gujarat Titans To Join Mumbai Indians
Hardik Pandya’s switch from Gujarat Titans to Mumbai Indians has shocked everyone. Especially when he is joining the team as a captain replacing Rohit Sharma. To say that it remains a topic of hot discussion would not be so wrong. Now, Ashish Nehra, the head coach of Gujarat Titans opened up and shared why he did not stop Hardik Pandya from joining MI and leaving Gujarat Titans.
Hardik Pandya was an instant hit when he led Gujarat Titans to their maiden victory in IPL 2022
Hardik Pandya quickly became a star after leading Gujarat Titans to their first-ever IPL victory in 2022, capturing attention with his exceptional leadership skills. Despite this success, he surprised many by announcing his move to Mumbai Indians ahead of the 2024 season, where he was appointed captain. This decision sparked discussions, especially regarding Mumbai’s choice to replace Rohit Sharma. Reactions from Rohit Sharma’s wife Ritika are also to be not forgotten. Nonetheless, it is what it is.
Gujarat Titans head coach Ashish Nehra opened up about Hardik Pandya’s switch from GT to MI
GT head coach Ashish Nehra recently addressed Hardik Pandya’s decision to switch from GT to MI just a week before the start of the IPL season. Nehra candidly admitted that while he didn’t try to stop Pandya from leaving, he would have persuaded him to stay if it were any other franchise. Despite Pandya’s departure, Nehra expressed understanding, noting Pandya’s history with MI.
He said as we quote,
“I never tried to convince Pandya to stay back. As you play more, you gain experience. I could have stopped him had he gone to any other franchise. He (Pandya) played here for two years but he has gone to a team (MI), where he has played previously for 5-6 years.”
Reflecting on the trend, Nehra cautioned IPL franchises about the increasing likelihood of player transfers, similar to those seen in European football leagues. He emphasized the evolving nature of cricket and the emergence of trades and transfers as a norm. Nehra acknowledged the shift as a new challenge, suggesting that Pandya’s move could offer valuable learning experiences and wishing him the best in his future endeavors with MI.
“The manner in which the sport (cricket) is moving, we will have trades and transfers like we see in international soccer. It’s a new challenge for him and may be he will learn something new and we wish him the best.”
Now, the anticipation builds as Mumbai Indians prepare to face Gujarat Titans in their IPL 2024 opener on March 24, stirring up excitement among fans eager to see how Pandya’s leadership will fare against his former team.
The TATA IPL 2024 season is scheduled to commence on March 22, 2024, and will conclude on May 29, 2024. This season stands out with a total of 74 matches scheduled to take place, promising an action-packed tournament for cricket fans worldwide.
Will Pandya have a successful win as MI captain against GT? Or will Pandya face defeats via the hands of his old team? Do share your thoughts via the comments below.
News
Orry Finally Reveals His Main Source Of Income, Earns ₹15-30 Lakhs By Doing This
Orry is one popular personality who needs no introduction. This social media personality is a BFF of every possible star kid hailing from B-town. Orhan Awatramani is a socialite who is literally the spotlight of every rich party.
However, seldom anyone knows what he does to be an atendee at such prestigious parties and what his profession is. Recently, he opened up about his main source of income which gives him an average of 15-30 Lakhs.
Orry’s source of income revealed, Spreading happiness through event appearances
In a recent interview with Forbes India, Orry disclosed his main source of income thereby shedding light on his profession. He explained that he earns predominantly by attending various events. Orry emphasized his mission to spread happiness and positivity in people’s lives. He stated that this purpose resonates with others and keeps him motivated.
He expressed his joy in participating in events that bring happiness to both himself and others. Currently, these appearances serve as his main source of income. Orry finds fulfillment in contributing to the happiness of those around him through his event appearances, aligning with his goal of spreading joy and positivity.
He said in the interview as we quote,
“For now, my focus is to spread the message of happiness. It resonates with people, keeps me going, and allows me to attend events that bring joy to others and myself. These appearances are currently my primary source of income.”
He earns about Rs 15-30 Lakh by attending the events of rich personalities
In a recent revelation, Orry disclosed that he earns between Rs 15 to 30 lakhs for his appearances at events. He clarified that these invitations often come from individuals who wish for his presence as a friend to the groom or host, rather than merely as a guest. Sounds astounding? We totally agree!
Orry expressed gratitude towards his audience, emphasizing that their desire for his attendance at such gatherings serves as a significant source of income and support. He highlighted the importance of maintaining strong connections with his audience, which ultimately allows him to sustain his presence in the event circuit.
“People call me to weddings and they are happy to pay me anywhere between Rs 15 lakh- Rs 30 lakh. They want me to attend not as a guest but as a friend, maybe to the groom or someone else. So, my actual audience keeps me so afloat that they want me there at their events.”
Furthermore, based on his LinkedIn profile, Orhan Awatramani holds the position of Special Project Manager at the Chairperson’s Office of Reliance Industries Limited.
Orry attended the Diwali bash of Manish Malhotra where he flaunted his picture with his friend, Isha Ambani
Not long ago, Orry was seen attending the pre-wedding event of Anant Ambani and Radhika Merchant. It is a testament of his friendly relations with the renowned Ambani family. What is interesting to note is that he even flaunted the pictures with Rihanna who was a special performing guest in that event.
Furthermore, last year, on November 9, 2023, he shared unseen photos with Isha Ambani from Manish Malhotra’s Diwali celebration on his Instagram. The photos underscored the close bond between Orry and Isha. He captioned the photo by writing,
“Your growth, journey dedication, ambition, drive, and focus, has inspired me.”
In the pictures, Orry sported a yellow kurta with white pyjamas, meanwhile Isha looked stunning in a shimmering pink saree. Here have a look at it,
His presence at such prestigious events are what allows him to sustain a rich living. What are your thoughts on this? Do share via the comments below.
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