The initial public offering (IPO) of Tata Technologies Ltd is going to hit the Indian primary market on 22nd November 2023 i.e. on Wednesday next week. The Tata group company has fixed Tata Technologies IPO price band at ₹475 to ₹500 per equity share.
Meanwhile, ahead of Tata Technologies IPO's date of subscription opening, the gray market has gone highly bullish on the public issue worth ₹3,042.51 crore. According to market observers, shares of Tata Technologies Ltd are available at a premium of ₹375 in the gray market today.
Tata Technologies IPO GMP Today
As per the market observers, Tata Technologies IPO gray market premium (GMP) today is ₹375, which is ₹35 higher from yesterday morning GMP of ₹340. However, Tata Technologies IPO GMP started to surge on Friday as the day progressed. At the time of stock market close on Friday, Tata Technologies IPO GMP was ₹367.
Market observers said that the rise in Tata Technologies IPO GMP despite weak sentiments on Dalal Street is praiseworthy. They said that Tata Technologies IPO GMP has risen from around ₹240 to ₹375 in two days, which signals strong response from investors when the public issue opens on 22nd November 2023.
However, stock market experts said that GMP should not be taken so seriously as it is non regulated and completely speculative. They said that the gray market premium has no connection with the company's financials. They said that sometimes, the GMP turns out artificial as well as it involves even those who have a high stake involved in the upcoming IPO. They advised investors to scan the balance sheet of the company before making any investment decision in the primary market.
Tata Technologies IPO Details
As mentioned above, Tata Technologies IPO date of opening is 22nd November 2023 and it will remain open for subscription till 24th November 2023. Tata Technologies IPO price has been fixed at ₹475 to ₹500 and Tata Technologies IPO lot size comprises 30 Tata Technologies shares.
Tata Technologies IPO Review
Speaking on Tata Technologies IPO, Atul Parakh, CEO at Bigul said, "TATA Technologies will be the IPO to look upon in the next week, which everyone has been waiting for. The IPO is coming with a face value of ₹2 with good valuation comfort concerning its peers in the names of KPITTECH and TATAELXI. The company is also backed by TATA, with solid financials and prospects. The investors' interest also exhibits probable heavy listing gains, which is also a major factor of the retail interest in the stock."
Giving 'subscribe' tag for medium to long term, Rajesh Sinha Sr. Research Analyst at Bonanza Portfolio said, "Tata Technologies is a leading global engineering services company offering product development and digital solutions, including turnkey solutions to global original equipment manufacturers (OEMs) and their tier-1 suppliers. It has deep domain expertise in the automotive industry and leverages its expertise to serve its clients in adjacent industries, such as in aerospace and transportation and construction heavy machinery. Tata Technologies is a pure-play manufacturing focused ER&D company, primarily focused on the automotive industry and is currently engaged with seven out of the top 10 automotive ER&D spenders and five out of the 10 prominent new energy ER&D spenders in 2022."
Bonanza portfolio expert said that the Tata Technologies IPO has been launched at an attractive valuation against its peers like Tata Elxsi, KPIT Technologies, L&T Technology Services, etc.
