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Tata Technologies raises Rs 791 crore from anchor investors ahead of IPO

Tata Technologies Ltd. has raised Rs 791 crore from anchor investors ahead of its initial public offering.

The engineering services company allotted 1.58 crore shares at Rs 500 apiece to 67 anchor investors.

The marquee investors include Fidelity International, Nippon Life India, BNP Paribas, SBI Mutual Fund, HSBC, Kotak, DSP, Motilal Oswal, Edelweiss, and Goldman Sachs, among others.

SBI Multi Asset Allocation Fund secured 4.30% of the allocation, the highest in the list.

Seventeen domestic mutual funds have applied through a total of 39 schemes, the company said in an exchange filing. They have collectively netted 44.88% of the anchor portion of Rs 354 crore.

ICICI Prudential, Aditya Birla Sun Life, Axis Mutual Fund, Franklin India, Edelweiss, Sundaram MF and Nippon Life India are among the key investors.

Citigroup Global Markets India Pvt., JM Financial Ltd., and BofA Securities India Ltd. were the book-running lead managers for the offer. Bloomberg

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