Tata Technolog. IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Tata Technolog.

CMP

1,160.50

+3.75 (0.32%)

  • DRHP
₹500

Offer Price

₹ 3,042.51 Cr

Issue Size

₹ 15,000

Min Investment

69.43x

Times Subscribed

30

Lot size

Time Line

  • 22
    Nov 2023
    Open
  • 24
    Nov 2023
    Close
  • 28
    Nov 2023
    Finalisation of Basis of Allotment
  • 29
    Nov 2023
    Initiation of Refunds
  • 29
    Nov 2023
    Transfer of Shares to Demat Account
  • 30
    Nov 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Deepen engagements within existing client base.

  • Target top ER&D spenders in select high priority verticals and key geographies.

  • Expand capabilities in digital engineering and embedded systems.

  • Strengthening service delivery through capacity and capability building and optimizing delivery processes.

  • Expand capabilities and enterprise client base in the education sector.

Products & Services

  • The Company is a leading global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers and their Tier 1 suppliers globally.

Strengths

  • Deep expertise in the automotive industry.

  • Differentiated capabilities in new age automotive trends - electric vehicles, connected and autonomous.

  • Strong digital capabilities bolstered by proprietary accelerators.

  • Marquee set of clients across anchor accounts, traditional OEMs and new energy vehicle companies.

  • Global delivery model enabling intimate client engagement and scalability.

Risks

  • The company continues to derives a material portion of its revenues from the company top 5 clients by revenue generated in Fiscal 2022 ("Top 5 Clients") which include Tata Motors Limited (its Promoter) and certain of its subsidiaries (other than JLR) (collectively, "Tata Motors") and JLR (JLR and Tata Motors together, the "Anchor Clients"). If any or all of its Top 5 Clients were to suffer a deterioration of their business, cease doing business with it or substantially reduce their dealings with the company, its revenues could decline, which may have a material adverse effect on its business, results of operations, cash flows and financial condition.

  • The company revenues are highly dependent on clients concentrated in the automotive segment. An economic slowdown or factors affecting this segment may have an adverse effect on its business, financial condition and results of operations.

  • The company expect a significant amount of future revenue to come from new energy vehicle companies, many of whom may be startup companies. Uncertainties about their funding plans, future product roadmaps, ability to manage growth, creditworthiness and ownership changes may adversely affect its business, financial condition and results of operations.

  • The company`s success depends in large part upon the strength of its skilled engineering professionals and management team. If the company fail to attract, retain, train and optimally utilize these personnel, its business may be unable to grow and the company revenue and profitability could decline. Further, increases in wages and other employee benefit expenses for such personnel could prevent its from sustaining the company competitive advantage.

  • Its pricing structures and scope of offerings may not accurately anticipate the cost and complexity of performing its work and if the company is unable to manage costs successfully, certain of its contracts could be or could become unprofitable.

Company Promoters

Promoters Holding

Issue For IPO
11.40%
Pre Holding

64.79%

Post Holding

53.39%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 3,529.58 (48.30%) 4,414.18 (25.10%) 20.87 (-)
Gross Profit 3,529.58 (48.30%) 4,414.18 (25.10%) 20.87 (-)
Net Income 3,529.58 (48.30%) 4,414.18 (25.10%) 20.87 (-)
Assets 3,529.58 (48.30%) 4,414.18 (25.10%) 20.87 (-)
Liabilities 3,529.58 (48.30%) 4,414.18 (25.10%) 20.87 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Tata Technologies Ltd 4,414.18 624.04 3,268.69 279.22 20.87 15.38 73.69 2.00 0.08
KPIT Technologies Ltd 3,365.04 381.00 3,400.58 3,400.58 23.06 13.95 61.52 11.20 0.03
L&T Technology Services Ltd 8,013.60 1,169.80 6,917.30 6,917.30 23.62 110.48 470.99 16.91 0.00
Tata Elxsi Ltd 3,144.72 755.19 2,763.50 2,763.50 36.20 121.26 334.92 27.32 0.00

Book Running Managers

  • JM Financial Ltd
  • Citigroup Global Markets India Pvt Ltd
  • BofA Securities India Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

Plot #25 Rajiv Gandhi Infotech,
-Park Hinjawadi,
Pune - 411057
Phone : +91 20 6652 9090 Email : ipo@tatatechnologies.com www.tatatechnologies.com

Offer Related Information

Initial public offer of 60,850,278* equity shares of face value of Rs. 2 each ("Equity Shares") of Tata Technologies Limited ("Company") for cash at a price of Rs. 500 per equity share (including a premium of Rs. 498 per equity share) ("Offer Price") aggregating to Rs. 3042.51 crores* through an offer for sale (the "Offer") of 46,275,000* equity shares aggregating to Rs. 2313.75 crores* by Tata Motors Limited (the "Promoter Selling Shareholder"), 9,716,853* equity shares aggregating to Rs.... More

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