Tata Technologies IPO all you need to know

17 Nov 2023 , 10:29 AM

Tata Technologies Ltd.’s initial public offering (IPO) is scheduled to launch on November 22, 2023, and bids will be accepted through November 24, 2023. Tata Technologies IPO pricing range has been announced by the Tata group firm, and it is set between Rs 475 and Rs 500 per equity share. Meanwhile according to news reports, the grey market has become extremely positive on the public offering following the announcement of Tata Technologies’ IPO date and price range. 

News reports claim that shares of Tata Technologies Ltd. are currently trading on the grey market at a premium of Rs 340.

As previously stated, the IPO grey market premium (GMP) of Tata Technologies is currently Rs 340, indicating a Rs 90 increase from the GMP of the book build issue from yesterday morning. According to news reports, the Tata Group is making an IPO after an almost two-decade hiatus. The public issue is being raised at a time when market watchers anticipate a new bull market. 

In addition, the Tata Group’s face value supports the perceptions of the grey market. They claimed that investors were excitedly awaiting the announcement of Tata Technologies’ initial public offering (IPO) and that the grey market would undoubtedly react favourably to the book build issue once the company’s pricing range and subscription opening date were revealed.

This indicates that the grey market anticipates that the company’s IPO listing price would be around Rs 840 per equity share, a 68% increase over the IPO price range of Rs 475 to Rs 500 per equity share. Thus, a significant listing benefit from the public issuance is shown by the grey market.

Stock market professionals, however, contend that mood in the grey market is not a reliable determinant of the listing premium. The company’s balance sheet should be quickly perused because the financials provide a long-term, concrete fundamental picture.

On November 22, 2023, the public issue will go live and be available for subscription. The bidding will run through November 24, 2023. In the Tata Technologies IPO, one log will include thirty shares of the firm. The public offering is 100% offer for sale (OFS) with a target revenue of Rs 3,042.51 crore.

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