Tata Tech IPO📊, Oyo to refile DRHP📃, Microsoft cut 5% of global workforce🙋🏻‍♀️

Tata Tech starts work on IPO, OYO to refile IPO papers, Microsoft to lay off 10,000, FREE Growth Course, Funding Deals and more.

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Jan 19, 2023

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Tata Tech starts work on IPO to raise up to Rs 4,000 crore📊

N Chandrasekaran-led Tata group has initiated the process to list Tata Technologies through an initial public offering (IPO).

The Tata Motors subsidiary is working with two advisors and is in the process of appointing another, to help it raise Rs 3,500 crore-4,000 crore, valuing it at Rs 16,200 crore–20,000 crores ($2 billion-2.5 billion).

Tata Motors holds 74.42% of Tata Technologies, according to the company’s 2022 annual report.

Tata Tech is planning a mix of primary and secondary sale of equity that will offer a liquidity event for financial and small investors. This will also provide access to primary growth equity for funding expansion in India and overseas.

OYO to refile IPO papers with updates to Sebi by mid-February📃

Hospitality giant Oyo has said it would refile its public listing application — Draft Red Herring Prospectus (DRHP) — with the Securities and Exchange Board of India (Sebi) by the middle of February 2023.

The company’s statement comes almost two weeks after the markets regulator asked the company to refile the draft initial public offering (IPO) papers with certain updates.

In September 2021, OYO filed preliminary documents with Sebi for an Rs 8,430 crore IPO. The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation of $7-8 billion instead of the $11 billion it was targeting initially.

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Growth Hacks📈

Microsoft to lay off 10,000 employees, cut 5% of global workforce🙋🏻‍♀️

Microsoft said on Wednesday it would cut 10,000 jobs by the end of the third quarter of FY23, the latest sign that layoffs were accelerating in the US technology sector as companies brace for an economic downturn.

The layoffs will result in a charge of $1.2 billion in the second quarter of fiscal 2023, representing a negative impact of 12 cents on per-share profit, Microsoft said.

Microsoft recently slashed its workforce in October and July, and has paused hiring.

Microsoft joins Amazon, Meta, Salesforce, among other major companies that have sacked thousands of employees in the past few months.