TATA Technologies is doing corporate action for bringing IPO Soon
Tata Technologies will commence a remote e-voting from 9 am on Friday 16-12-2022 to 5 pm Saturday 14-01-2023 to pass following special resolutions
1. Adoption of amended Articles of Association
The Company is required to change AOA as Equity Shares of the Company are proposed to be listed soon on the exchanges.
2. Sub-division of face value of equity shares
Tata Technology is dividing its face value from Rs 10 to Rs 2 that means for every 1 share shareholder will get 5 shares.
3. Increase in the authorised share capital of the Company
a) The Company is increasing its authorised equity share capital from 60.7 Cr of FV 10 to 350.7 Cr. of FV 2.
b) The authorised preference share capital will remain the same at 7 lakh at FV 10.
4. Capitalization of reserves and the issue of bonus shares to the Equity Shareholders of the Company
The bonus shares ratio is 1:1 means for every 1 share you will get 1 bonus share.
5. Increase in investment limits for Non-Resident Indians and Overseas Citizens of India
It is increased from 10% to 24% of the paid-up equity share capital of the Company.
6. Appointment of Ms. Usha Sangwan as an Independent and Woman Director
She will be appointed as an independent director of the Company for a period of three consecutive years from October 21, 2022 to October 20, 2025.
7. Continuation of Mr. Subramanian Ramadorai as a Non-Executive Director of the Company
Mr. Subramanian Ramadorai was appointed as Non-Executive Director of the Company with effect from March 8, 2001, and is continuing as a Non-Executive Director of the Company.
8. Termination of the Tata Technologies Employees Stock Option Scheme 2001
Tata Technology ESOP plan be cancelled due to a new Tata Technologies Limited Stock based Long Term Incentive Scheme 2022.