New Delhi [India], November 20 (ANI): Tata Technologies is set to embark on a new chapter by launching its Initial Public Offering (IPO). The IPO, scheduled between November 22 and November 24, 2023, will present an opportunity for investors to be part of this entity.

Priced at a face value of Rs 2 per share, the offering size stands at Rs 3,043 crores (Offer for Sale), with a market lot comprising 30 shares amounting to 15,000.

As of the latest financial disclosures, Tata Technologies commands a Gross Merchandise Output (GMO) of Rs 340. The company's valuation is underscored by a market capitalization of Rs 20,238 crores, maintaining a price-to-earnings ratio of 28.8 per cent.

The Tata Group stands as a pillar of India's business landscape. Among its subsidiaries, Tata Technologies, a global leader in design engineering and IT services outsourcing has played a pivotal role in shaping industries worldwide.

Headquartered in Pune, India, Tata Technologies boasts regional headquarters in the United States and a robust global workforce exceeding 11,000 professionals.

The company operates through 18 delivery centres strategically located across India, North America, Europe, and the Asia-Pacific region, solidifying its position as an international force in design and engineering services.

Founded in 1989 as the automotive design unit of Tata Motors, Tata Technologies emerged as a separate entity in 1994, maintaining Tata Motors as its majority stakeholder and principal client.

The company's trajectory of growth saw a significant milestone in 2005 with the acquisition of INCAT International, a prominent UK and US-based automotive and aerospace engineering company.

In 2011, Tata Technologies strengthened its financial position by raising Rs 141 crore (USD 30 million) through a 13 per cent stake sale to Tata Capital and Alpha TC Holdings.

The strategic expansion continued in 2013 with the acquisition of Cambric Corporation, an American engineering services company, for USD 32.5 million.

This move towards an IPO not only reflects Tata Technologies' commitment to growth and innovation but also opens avenues for investors to be part of a legacy that has consistently shaped the technological landscape on a global scale.

As the IPO journey unfolds, market enthusiasts are keenly watching Tata Technologies' next phase in contributing to the future of design and engineering solutions. (ANI)