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Tata Technologies has signed an MOU with the TamilNadu government to upgrade 71 ITIs. It will help transform ITIs into "Technology Centers" with modern infrastructure & training facilities for Industry 4.0. The project is worth Rs 2204 Crs, and the company will collaborate with 20 global industry partners to implement this project.
The company proposes to buy-back up to 12,40,122 (Twelve Lakh Forty Thousand One Hundred and Twenty Two) equity shares of face value of Rs.10 (Rupees Ten) each of the company. The equity shares of the company are proposed to be bought back at a price of Rs. 1,982 (Rupees One Thousand Nine Hundred and Eighty Two Only) per share (“Offer Price”).
Tata Technologies is collaborating with the Government of Karnataka, Karnataka Skill Development Corporation, and the Chief Minister of Karnataka to transform 150 Industrial Training Institutes (ITIs) into technology hubs by leveraging its manufacturing domain knowledge & product engineering expertise. Advanced technology labs have been established in these ITIs in additive manufacturing, automotive manufacturing, electric vehicles, industrial robotics with arc welding, product design and verification, advanced manufacturing systems, internet of things, industrial automation, and advanced plumbing.