Tata Tech IPO: Almost 19 years since the last Tata Group firm listed on the Indian Stock Exchange. This new Tata Group company is Tata Technologies Ltd, a Tata Motors subsidiary. Dalal Street spectators are eagerly expecting the start of the Tata Technologies IPO subscription date now that the market regulator SEBI (Securities and Exchange Board of India) has given the go-ahead to the company. The Tata Technologies IPO date is anticipated to take place at the end of August or in the middle of September 2023, according to stock market experts. As a result, Tata Technologies IPO subscription may start in the next month.
Also Read: TVS Supply Chain IPO allotment expected today, what does GMP signal?
Tata Technologies IPO details
The objectives of the offer, according to Tata Tech IPO Draft red herring prospectus (DRHP), are to carry out Offer for Sale (OFS) of up to 95,708,984 equity shares by the selling shareholders and reap the benefits of listing the equity shares on public exchanges. The shares are proposed to be listed on BSE, NSE.
“Further, our Company expects that the proposed listing of its Equity Shares will enhance our visibility and brand image as well as provide a public market for the Equity Shares in India,” said the Tata Group company in its DRHP.
JM Financial Ltd, Citigroup Global Markets India Private Ltd, and BofA Securities India Ltd are the issues book running lead managers (BRLM), and Link Intime India Private Ltd is the registrar to the offer.
The company in its DRHP stated that the price band and offer price will be determined by them, in consultation with the BRLM, on the basis of assessment of market demand for the equity shares offered through the Book Building Process and on the basis of quantitative and qualitative factors as described below. The face value of the equity shares is ₹2 each, according to the DRHP.
Tata Tech IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
Tata Technologies’ IPO, which is entirely an Offer for Sale (OFS) offering, has already begun receiving signals from the grey market since SEBI gave its approval for its launch.
Tata Technologies IPO GMP
Tata Technologies IPO GMP today or grey market premium is ₹100, according to ipowatch.in. Last week, according to market observers, Tata Technologies IPO grey market premium was ₹105. Market observers said that Tata Technologies IPO GMP has risen despite weak stock market sentiments in the week gone. Tata Technologies IPO GMP was ₹89 in the first week of August.
Also Read: Pyramid Technoplast IPO: Pyramid IPO fully booked on day 1; here’s what GMP indicates
Tata Technologies IPO price
Asked about Tata Technologies IPO expected price, market expert Anuj Gupta said, “Comparing Tata Technologies with its peer Cyient, market cap of Tata Technologies would come around ₹12,000 crore. As the company has proposed 405,668,530 shares to list on Indian bourses, Tata Technologies IPO price would come around ₹295. So, in case of neck to neck valuations, Tata Technologies IPO price can be expected around ₹295. Sometime, a company offer their stocks at 10-15 discount to make it more attractive for the investor. In that case, Tata Technologies IPO price may come around ₹265 to ₹270 per equity share. However, in case of high response expectations, companies also try to maximise its return and hence they offer their stock at higher valuations by same percentage points. In that case, Tata Technologies IPO price can be expected around ₹315 to ₹320 per equity share.”
Also Read: Tata Technologies IPO: GMP jumps. Key risks involved in this upcoming IPO
Tata Technologies IPO: Why you should apply?
Speaking on Tata Technologies IPO details, Aamar Deo Singh, Head Advisory at Angel One said, “Tata Technologies is an IT company with Tata Motors having stakes in it, it being a subsidiary of Tata Motors. The primary line of business of Tata Technologies is to provide outsourced engineering service and digital transformation services to global clients. Tata Technologies helps companies to conceive, design, develop, and deliver better products. Tata Technologies is a global company with deep-domain knowledge and expertise in the automotive industry, deploying to adjacent industries like aerospace, transportation and construction of heavy machinery.”
Also Read: Tata Technologies IPO: GMP, expected date and price. Why you should apply — explained
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp
Leave a Reply