Tata Tech raises ₹791 cr from anchor investors ahead of IPO
Tata Technologies has raised ₹791.05 crore, ahead of its IPO, on Tuesday. The public issue from Tata Group company opens on Wednesday and closes on Friday at a price band of ₹475-500.
The board of Tata Technologies has finalised the allocation of 1.58 crore shares to anchor investors at ₹500 a share, it said in a notice to the stock exchanges.
Among the marquee investors included Goldman Sachs, Government Pension Fund Global, BNP Paribas Funds, Prudential Assurance Company, HSBC Global, Florida Retirement System, Oaktree Emerging Markets Equity Fund, Brinker Capital Destinations Trust, Great Eastern Life-Singapore Life Insurance Fund, RBC Asia Pacific Ex-Japan Equity Fund and Copthall Mauritius Investment.
Domestic mutual funds and insurance companies, including SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life, Aditya Birla Sun Life Trustee, Franklin Templeton Mutual Fund, SBI Life Insurance Company, Kotak Mutual Fund, DSP Mutual Fund, HDFC Life Insurance Company, Mirae Asset Mutual Fund, Bandhan Mutual Fund, Edelweiss Trusteeship, Motilal Oswal Mutual Fund, Sundaram Mutual Fund, Axis Mutual Fund, Canara Robeco Mutual Fund, Kotak Mahindra Life Insurance Company, JM Financial Mutual Fund, Bajaj Allianz Life Insurance Company, and Bharti Axa Life Insurance Company, also participated in the anchor portion.