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Tata Technologies IPO And Why It Is Important For Tata Motors
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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
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Daylight robbery is not quite usual but it does not strike out the fact that it is highly possible. Many a time cases as such have surfaced online where normal people were robbed in broad daylight. Recently, the passengers in a taxi got robbed inside the Pragati Maidan tunnel in Delhi on Saturday afternoon.
Four men rob taxi passengers at gunpoint in broad daylight and here is what Delhi Police have to say
On Saturday, a delivery agent and his associate were robbed at gunpoint by a group of unknown assailants, stealing around Rs 1.5 to Rs 2 lakh cash from them. In spite of having 16 security guards in the Pragati Tunnel, there were no CCTV cameras installed. Although the Public Works Department assured that cameras are installed, they did not confirm their operational conditions.
The victims made a complaint at Tilak Marg police station later in the evening. The Pragati tunnel is a 1.5 km tunnel that connects New Delhi with Sarai Kale Khan and Noida. The police said that following the complaint made by the victims, a case has been filed under Sections 397 IPC which covers robbery, or dacoity with an attempt to cause death or grievous hurt and 34 (common intention).
The Deputy Commissioner of Police, Pranav Tayal, has shared that the complainant can be identified as Patel Sajan Kumar and his associate Jigar Patel. Patel Sajan works as a delivery agent for a private firm in Chandni Chow and has informed the police that he and Jigar were going to Gurugram to deliver the cash to a client.
As per the registered complaint, the two of them hired an Ola cab from near Red Fort. As soon as the cab entered the Pragati Maidan tunnel from Ring Road, four assailants on two motorcycles surrounded their cab and robbed the cash off them keeping them at gunpoint.
While the police are looking into the matter, Delhi Chief Minister Arvind Kejriwal is not satisfied with the deterioration of public safety needs
As soon as the CCTV footage surfaced, Arvind Kejriwal lashed out at Lieutenant Governor Vinai Kumar Saxena and demanded his resignation from the post.
Kejriwal took to Twitter to share the footage and wrote,
“If Central govt is unable to make Delhi safe, hand it over to us. We will show u how to make a city safe for its citizens”
LG shud resign. Make way for someone who can provide safety n security to the people of Delhi.
If Central govt is unable to make Delhi safe, hand it over to us. We will show u how to make a city safe for its citizens. https://t.co/oPtqnAWlgJ
— Arvind Kejriwal (@ArvindKejriwal) June 26, 2023
Delhi Minister Atishi also took to Twitter and slammed the incompetency of the Lieutenant Governor. She tweeted,
LG साहब: अगर आपको @ArvindKejriwal के कामों का क्रेडिट लेने से फ़ुरसत मिले तो कभी अपनी संवैधानिक ज़िम्मेदारी पर भी ध्यान दीजिए। दिल्ली वालों को सुरक्षा देना आपका काम है। और अब दिन दहाड़े दिल्ली में चोरी, डकैती और क़त्ल की वारदातें हो रही हैं। या तो आप सुरक्षा की ज़िम्मेदारी लीजिए,… https://t.co/RG4c9ozWnW
— Atishi (@AtishiAAP) June 26, 2023
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Coming across train service complaints on social media is nothing new. Very often than not we find passengers complaining about bland food or bugs in the cooked food provided to them. Quite recently someone took to Twitter regarding a complaint where they found plastic in the railway food. But the latest thing that happened has actually stunned everyone when a video of the roof of a passenger coach train surfaced online.
Indian Railways slammed over water leakage in AC coach
Netizens have harshly criticized the poor management and maintenance of the train coaches after a surprising video surfaced online. Recently, a video went viral on social media platforms in which it can be clearly seen rainwater seeping in through the roof of the 2-tier AC coach of the Avantika Express. The Congress party also reshared the video uploaded by a passenger and took to Twitter to play the blame game immediately.
The tweet said,
“काश खोखले प्रचार की जगह रेलवे के लिए कुछ काम किया होता। झंडी दिखाने वाले रेल मंत्री अभी विदेश में हैं, नाम वाले रेल मंत्री ध्यान दें। (Wish some actual work would have been done for the Railways in place of empty propaganda. The railway minister who shows the flag is currently abroad, the named railway minister should pay attention)”
काश खोखले प्रचार की जगह रेलवे के लिए कुछ काम किया होता।
झंडी दिखाने वाले रेल मंत्री अभी विदेश में हैं, नाम वाले रेल मंत्री ध्यान दें। pic.twitter.com/FNLvQL1Ihu
— Congress (@INCIndia) June 25, 2023
It was a jab at the Prime Minister, Narendra Modi, who recently flagged off 11 Vande Bharat Express, the Railways’ newest hi-tech train.
Railways response to the above-mentioned tweet
The Western Railway took to Twitter to respond to that tweet hours later and stated that all the coaches of the Avantika Express train were properly checked.
The tweet read,
“All coaches of Avantika Exp have been checked thoroughly & issue has been attended to promptly. The train has commenced its return journey & there are no such issues now. Passenger convenience is of utmost priority & WR leaves no stone unturned to resolve passengers’ grievances”
All coaches of Avantika Exp have been checked thoroughly & issue has been attended promptly.
The train has commenced its return journey & there are no such issues now.
Passenger convenience is of utmost priority & WR leaves no stone unturned to resolve passengers’ grievances. pic.twitter.com/V9QyKiIowJ
— Western Railway (@WesternRly) June 25, 2023
Netizens have strongly reacted to this video
Many Twitter users have either chosen sarcasm or disappointing words to slam the Railways.
Second ac coach ka ye hal bahut दुखद है
Unacceptable— Piyush Pandey (@Pandey4443) June 25, 2023
Its Romantic- Bed and Shower !
— राहुल गांधी (@BroRahulGandhi) June 25, 2023
Thandi hawa ke sath sath sarkar ne barish ke pani ka bhi anand lene ke liye ye nayab tarikib lagai hai isme bhrastachar bilkul nhi hai aur haa jine murko ke ye lgta hai isme amir log travel krte hai to unko ye bta du amir log plan me jate hai aur dikhave wale amir train me….🤐
— subodh Navik (@navik_subodh) June 25, 2023
Indian Railway has launched NEW SUITE COACH with open shower facility.
Indian railways are also discussing to provide shower gel, Shampoo & Bathrobe to the passengers in these trains.
Modi !! Modi !! Modi 🙏🏻🙏🏻#AvantikaExpress #Mumbai #Indore #IndianRailways @AshwiniVaishnaw pic.twitter.com/TB2GevjYKl
— Mahua Moitra Fans (@MahuaMoitraFans) June 25, 2023
This is probably not the first time that something has happened as per the claims of this Twitter user,
Recently travelled from 12424 Rajdhani Express to #Guwahati , had a very bad experience.
As it was raining the rainwater was leaking in every coach and also there was no water in most of the dirty toilets. TTE ignored the complaint and asked to register complaint via phone.— KHATI AXOMIYA (@AxomiyaKhati) June 21, 2023
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On Sunday, Shah Rukh Khan aka the King Khan, completed 31 years in Bollywood industry. It was in 1992, when he made his debut in the industry with the movie Deewana opposite late actress Divya Bharti. As the fans celebrated the big day on social media with amazing messages and tributes for the actor, SRK also decided to celebrate the occasion with his fans in his own style.
Shah Rukh Khan completed 31 years in Bollywood
He took some time out of his busy schedule and held an #AskSRK session on Twitter. Starting the question and answer session on Twitter, SRK wrote:
“Wow just realised it’s 31 yrs to the day when Deewana hit the screens. It’s been quite a ride mostly a good one. Thanks all and we can do 31minutes of #AskSRK ??”
In no time, his Tweet was flooded with a variety of questions from fans for their favorite actor. SRK, who is known for his hilarious sense of humor, gave amazing replies to his fans with wit and humor.
Wow just realised it’s 31 yrs to the day when Deewana hit the screens. It’s been quite a ride mostly a good one. Thanks all and we can do 31minutes of #AskSRK ??
— Shah Rukh Khan (@iamsrk) June 25, 2023
SRK celebrated the big occasion with the fans
While interacting with the fans, King Khan stumbled upon a question that was asked by a female fan, who is currently pregnant with twins. The fan came up with an epic Tweet for the Pathaan actor. She asked:
“sir i am pregnant with twin babies..wish me luck i will name them pathaan and jawan.”
sir i am pregnant with twin babies..wish me luck i will name them pathaan and jawan ❤️ #AskSRK 5
— S 🐺 (@larkemaidumhai) June 25, 2023
SRK was quick to notice the Tweet and come up with a reply to it
He replied,
“All the best but please name them something better!!”
All the best but please name them something better!! https://t.co/4cdYLSAz7w
— Shah Rukh Khan (@iamsrk) June 25, 2023
Besides all the funny and hilarious answers, SRK was also seen giving some serious answers. A fan asked him if he would do a movie like Swades again, a role that was loved by one and all
Talking about his work front, SRK made a comeback after a hiatus of 4 years with Siddharth Anand’s blockbuster action-thriller Pathaan, which hit the theatres in January this year. SRK will be next seen in the upcoming action-thriller Jawan, which will be released on September 7th.
Jawan is directed by South filmmaker Atlee. Produced under SRK’s Red Chillies Entertainment, the movie also stars Nayanthara and Vijay Sethupathi in lead roles.
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