Tata Technologies IPO: Check GMP, Dates, prices, reviews, lot size

Tata Technologies IPO: Tata Technologies Ltd is set to make its debut on the Indian main market with an initial public offering (IPO) scheduled for November 22, 2023, opening on the next Wednesday. The Tata Group has established the Tata Technologies IPO price band at ₹475 to ₹500 per share.Leading up to the IPO subscription commencement, the gray market has shown significant interest in the public issue, valued at ₹3,042.51 billion. Market observers report a premium of ₹375 for shares of Tata Technologies Ltd in the gray market today, marking a notable increase of ₹35 compared to yesterday morning’s gray market premium (GMP) of ₹340. The GMP for Tata Technologies IPO began to rise steadily on Friday, closing the day at ₹367.

While market watchers acknowledge the rise in Tata Technologies IPO GMP amid a somewhat subdued market sentiment, they emphasize that GMP should be approached with caution as it is unregulated and not indicative of the company’s financials. Experts caution investors to conduct a thorough analysis of the company’s balance sheet before making investment decisions based on gray market premiums.

Tata Technologies IPO Details:

• Opening Date: November 22, 2023
• Closing Date: November 24, 2023
• Price Band: ₹475 to ₹500 per share
• Lot Size: 30 Tata Technologies shares

Expert Reviews on Tata Technologies IPO:
Atul Parakh, CEO of Bigul, states, “TATA Technologies will be the IPO to watch next week, everyone is waiting for the IPO, which is coming with a face value of ₹2 and offers good valuation compared to its peers KPITTECH and TATAELXI. The company, backed by TATA, demonstrates financial stability and promising prospects, evident in the heightened investor interest and strong retail demand for the stock.”

Rajesh Sinha, Sr. Research Analyst at Bonanza Portfolio, designates Tata Technologies as a ‘buy’ for the medium to long term. He notes, “Tata Technologies is a globally leading engineering services company, providing product development and digital solutions to global original equipment manufacturers (OEMs) and Tier 1 suppliers. With deep expertise in the automotive sector, Tata Technologies serves clients in adjacent industries like aviation, transportation, and heavy machinery construction. The IPO is attractively priced compared to peers like Tata Elxsi, KPIT Technologies, L&T Technology Services, etc.”

As the IPO debut approaches, investor attention remains focused on Tata Technologies, anticipating its performance in the dynamic market landscape.