Tata Technologies, Tata Group’s first company to go public after almost two decades. The company has set the price band for its IPO at Rs 475-500 per share with a lot size of 30 equity shares and its multiples thereof.

The public issue will open from 22 November to 24 November with an aim to raise Rs 3,042.51 crore through an offer-for-sale by promoters and investors of the company.

The promoters of the company, Tata Motors, will offload 4.62 crore equity shares that are worth Rs 2,313.75 crore in the offer-for-sale. The investors, Alpha TC Holdings Pte Ltd, will divest shares worth Rs 485.84 crore, that is 97.17 lakh shares of the company, and Tata Capital Growth Fund will be selling its shares worth Rs 242.92 crore total of 48.58 lakh shares of the company.

The engineering service company that offers global solutions has reserved shares for its employees and Tata Motors shareholders. The net issue, including these, reserved 20.28 lakh shares for its employees and 60.85 lakh shares for the shareholders of Tata Motors.

Moreover, 50% of the net offer size has been reserved for qualified institutional buyers, 15% for high-net-worth individuals, and the remaining 35% for retail investors.

Retail investors can make a minimum investment of Rs 15,000 for 30 shares, while their maximum investment would not exceed Rs 1.95 lakh shares as they are not allowed to invest up to Rs 2 lakh in the IPO.