The highly anticipated initial public offering (IPO) of Tata Technologies Ltd is set to make its debut in the Indian primary market on November 22, 2023. Investors have until November 24 to subscribe to the IPO, which is valued at a price band of ₹475 to ₹500 per share. The company aims to raise ₹3,042.51 crore through this offer, which is entirely an offer for sale (OFS).
Despite the recent volatility on Dalal Street, the grey market premium (GMP) for Tata Technologies IPO has remained steady at ₹351. This indicates strong market sentiment and suggests a positive response to the public issue. However, experts caution against making investment decisions based solely on grey market sentiments. GMP is non-regulated and speculative, sometimes influenced by those with a significant stake in the IPO. Instead, investors are advised to analyze the company’s balance sheet for a more accurate assessment of its long-term potential.
Here are some key details about Tata Technologies IPO:
– Applicants can apply for the IPO in lots, with each lot comprising 30 company shares. Retail investors will need a minimum of ₹15,000 (₹500 x 30) to apply for this highly anticipated public issue.
– The IPO opens on November 22, 2023, and bidding will remain open until November 24, 2023.
– The allotment date for Tata Technologies IPO is expected to be on November 27, 2023, with the listing date likely on November 29, 2023.
Experts have given positive reviews for Tata Technologies IPO, citing the company’s strong fundamentals and growth opportunities. Ventura recommends a “subscribe” rating for the IPO, considering the gradual recovery in the global economy and the shift in manufacturing to India. Arihant Capital also recommends investors to “apply” for the public offer, emphasizing Tata Technologies’ diverse range of services and robust earning growth.
It’s important to note that the views and recommendations provided by analysts or broking companies are their own and not of Mint. Investors are advised to consult certified experts before making any investment decisions.
1. What is the Tata Technologies IPO price band?
The Tata Technologies IPO is priced at ₹475 to ₹500 per share.
2. How much does a retail investor need to apply for the IPO?
A retail investor will need a minimum of ₹15,000 to apply for the Tata Technologies IPO, as one lot comprises 30 company shares.
3. What is the grey market premium (GMP) for the Tata Technologies IPO?
The GMP for the Tata Technologies IPO is currently ₹351.
4. When is the Tata Technologies IPO allotment date?
The allotment date for the Tata Technologies IPO is expected to be on November 27, 2023.
5. When is the Tata Technologies IPO listing date?
The listing date for the Tata Technologies IPO is likely to be on November 29, 2023.