Tata Technologies

ListedTechnology2023

First Tata Group IPO in nearly two decades; an engineering R&D and digital services provider to global automotive and aerospace OEMs. Listed at a 140% premium.

Return from IPO

+44%

₹500 → ₹720

Issue Price

₹500

Listing Price

₹1,200

Current

₹720

52W High

₹1,248

52W Low

₹595

Listing Gain

+140.0%

Company Overview

Introduction

Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier-1 suppliers.

Business Model

Revenue comes from Services (outsourced engineering and digital transformation) and Technology Solutions (products and education). Deep anchor relationships with Tata Motors and JLR provide a stable base, complemented by a growing roster of non-Tata global clients.

Industry Analysis

The global engineering, research and development (ER&D) outsourcing market is expanding as automakers shift to electric and software-defined vehicles, pushing R&D spend toward external specialists.

Promoters

Tata Motors Limited

IPO Details

Issue Size

₹3,042 Cr

Price Band

₹475 – ₹500

Lot Size

30 shares

Open → Close

22 Nov 2023 – 24 Nov 2023

Listing Date

30 Nov 2023

Listing Gain

+140.0%

Subscription (times)

69.4x

Overall

203.4x

QIB

62.1x

NII

16.5x

Retail

Market Performance

Current Price

₹720

Market Cap

₹29,200 Cr

P/E Ratio

43.0

Dividend Yield

1.2%

ROE

19.6%

ROCE

25.1%

Financials

Revenue CAGR +20.4%

Fiscal Year	Revenue	Profit	EBITDA	Net Worth	Debt
FY22	₹3,530 Cr	₹437 Cr	₹660 Cr	₹2,300 Cr	₹120 Cr
FY23	₹4,414 Cr	₹624 Cr	₹820 Cr	₹2,950 Cr	₹90 Cr
FY24	₹5,117 Cr	₹679 Cr	₹905 Cr	₹3,600 Cr	₹70 Cr

All figures in ₹ crore.

Price History

IPO Price vs Current

Returns

Key Numbers

GMP

₹366

Issue Size

₹3,042 Cr

Return from IPO

+44.0%

Listing Gain

+140.0%

News & Updates

Tata Technologies posts steady Q4; declares dividend
Economic Times
09 May 2025
New deal signed with European OEM for EV platform
Business Standard
18 Feb 2025
Stock completes one year since blockbuster listing
Mint
30 Nov 2024

SWOT Analysis

Strengths

• Marquee Tata Group parentage
• Deep automotive ER&D expertise
• Anchor clients in Tata Motors and JLR

Weaknesses

• Client concentration in the Tata ecosystem
• Exposure to a single end-industry (auto)

Opportunities

• EV and software-defined vehicle transition
• Diversification into aerospace and industrial heavy machinery

Threats

• Slowdown in global auto R&D budgets
• Intense competition from larger ER&D peers

Figures are illustrative sample data for demonstration — not investment advice.