Tata Technologies IPO: The initial public offering (IPO) of Tata Technologies Ltd will hit the Indian primary market on 22 November 2023 ie Wednesday next week. The Tata group company has set the Tata Technologies IPO price band at ₹475 to ₹500 per equity share.
Meanwhile, before the date of opening of Tata Technologies IPO subscriptions, the gray market has largely lost the value of the public issue ₹3,042.51 crore. According to market observers, shares of Tata Technologies Ltd are available at a premium ₹375 in the gray market today.
Tata Technologies IPO GMP today
According to market watchers, Tata Technologies IPO (GMP) is a gray market premium today ₹375, which ₹35 higher since yesterday morning GMP of ₹340. However. Tata Technologies IPO GMP started to rise on Friday as the day progressed. At the time the stock market closed on Friday, Tata Technologies IPO was GMP ₹367.
Market observers said the rise of Tata Technologies IPO GMP despite weak sentiment on Dalal Street is commendable. They said that Tata Technologies IPO GMP has been raised from approx ₹240 to ₹375 in two days, giving a strong response from investors when the public issue opens on 22 November 2023.
Also read: Tata Technologies vs IREDA vs Gandhar Oil Refinery: Which is better?
Stock market experts, however, said the GMP should not be taken so seriously as it is unregulated and entirely speculative. They said the gray market premium has nothing to do with the company’s finances. They said that the GMP sometimes becomes artificial and it even applies to those who are heavily involved in the upcoming IPO. They advised investors to scan the company’s balance sheet before making any investment decision in the underlying market.
Tata Technologies IPO details
As mentioned above, Tata Technologies IPO opening date is 22 November 2023 and will remain open for subscription till 24 November 2023. Tata Technologies IPO price was fixed at ₹475 to ₹500 lot size and Tata Technologies IPO comprises of 30 shares of Tata Technologies.
Review of Tata Technologies IPO
Commenting on Tata Technologies IPO, Atul Parakh, CEO at Bigul said, “TATA Technologies will be the IPO to watch next week, which everyone is waiting for. The IPO is in line with the face value of next week . ₹2 with good valuation comfort relative to its peers in the names of KPITTECH and TATAELXI. The company is also backed by TATA, with solid finances and prospects. Investor interest also points to likely heavy listing gains, which is also a major factor in retail interest in the stock.”
Giving a mid to long term ‘subscription’ tag, Rajesh Sinha Sr Research Analyst at Bonanza Punanza said, “Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions for original equipment manufacturers (OEMs) and their tier-1 suppliers. He has deep domain expertise in the automotive industry and uses his expertise to serve his clients in adjacent industries, such as aerospace and transport and heavy machinery construction. , primarily focused on the automotive industry and is currently working with seven of the top 10 automotive R&D spenders and five of the 10 significant new ER&D energy spenders in 2022.”
Bonanza portfolio expert said that Tata Technologies IPO has launched at an attractive valuation against its peers like Tata Elxsi, KPIT Technologies, L&T Technology Services, etc.
Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.
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Updated: 18 November 2023, 12:44 PM IST
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