Five companies, including Tata Technologies, Indian Renewable Energy Development Agency Ltd (IREDA) and Fedbank Financial Services Ltd (Fedfina), are set to raise over Rs 7,000 crore through initial public offerings (IPO) this week. Of the five IPOs, Tata Technologies, an engineering solutions provider, is planning to raise up to Rs 3,042 crore through the public issue. The price band for the IPO has been set at Rs 475-500. The issue will open on November 22 and the closing date is November 24.
Tata Technologies is a subsidiary of Tata Motors Ltd, which currently holds 64.79 per cent of the total equity share capital in the company. IREDA, a systematically important non-deposit taking non-banking financial company (NBFC)), is looking to raise up to Rs 2,150 crore via IPO. The price band for the issue is Rs 30-32 per equity share. The issue opened on November 21 and will close on November 23.
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