Tata Technologies IPO: After a gap of near two decades, Tata group is coming with an initial public offering (IPO). The Tata group has already received nod for the launch of Tata Technologies IPO launch from the market regulator Securities and Exchange Board of India (SEBI). Even though, Tata Technologies IPO price is yet to get announced by the company, market experts believe that issue will be priced around ₹268 apiece levels. In fact, Tata Technologies shares have made its debut in the unlisted market as well. As per the market observers, shares of Tata Technologies are available at a premium of ₹100 in grey market today.
Tata Technologies IPO GMP today
Though Tata group company is yet to announce Tata Technologies IPO date of opening and price band, Tata Technologies shares are available in unlisted stock market. As per the market observers, Tata Technologies IPO grey market premium (GMP) today is ₹100, which was ₹84 on last weekend. This means, grey market has gone bullish on Tata Technologies IPO as GMP surged from ₹84 to ₹100 in one week.
Expected Tata Technologies IPO price
On Tata Technologies IPO expected price, Rajesh Sinha, Senior Research Analyst at Bonanza Portfolio said, “Tata Technologies has reported TTM revenue of ₹3,983 crore and TTM Net Profit of ₹513 crore, resulting an TTM EPS of ₹12.65. If we want to compare Tata Technologies, we can compare with Cyient, as Cyient is mostly into same business and TTM revenue of ₹6,016 crore. Currently, Cyient is trading at 23.5x TTM EPS of ₹46.52. We have valued Tata Technologies at 10 per cent discount to the multiple assigned to Cyient at 21.2x TTM EPS to arrive at intrinsic value of ₹268 per share. Which result into market capitalization of Tata Technologies of ₹10,852 crore.”
Tata Technologies IPO date of opening
Asked about Tata Technologies IPO date of opening, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Market is first awaiting about the announcement of Tata Technologies IPO price band announcement followed by subscription opening date. However, this entire process would take around one to one and half month at least and hence I am expecting the nearest possible Tata Technologies IPO date of issue opening by end of August to mid-September 2023.
Tata Technologies IPO news
Tata Technologies filed DRHP with the SEBI for its IPO on 9th March 2023. It plans to sell up to 9.571 crore shares, representing approximately 23.6 per cent of its paid-up share capital through offer for sell. The IPO is an offer for sale by its existing shareholders, including Tata Motors, Alpha TC Holdings Pte and Tata Capital Growth Fund-I. Tata Motors currently holds a 74.69 per cent stake in the company, while Alpha TC Holdings Pte and Tata Capital Growth Fund-I have a 7.26 per cent and 3.63 per cent stake, respectively.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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