The IPO of Tata Technologies Ltd is set to enter the Indian primary market on November 22, 2023, with the subscription period open until November 24, 2023.
Tata Technologies has fixed the IPO price band at ₹475 to ₹500 per share, aiming to raise ₹3,042.51 crore through a completely offer for sale (OFS) structure.
As of today, the grey market premium for Tata Technologies IPO stands at ₹351, remaining steady despite fluctuations in the Dalal Street trends.
Applicants for Tata Technologies IPO can apply in lots, with one lot comprising 30 company shares. A retail investor would need at least ₹15,000 to apply for this much-anticipated public issue.
The IPO opens on November 22, 2023, and closes on November 24, 2023, with the allotment date expected on November 27, 2023, and the listing date on November 29, 2023.
Ventura suggests a 'subscribe' rating for Tata Technologies IPO, citing the global economic recovery, rising manufacturing capex, and strategic shifts, valuing TTECH at a TTM P/E of 28.3X.
Arihant Capital recommends an 'apply' tag, highlighting Tata Technologies' diverse services, strong partnerships, and robust earnings growth, positioning it favorably for both short-term gains and long-term investment.
Tata Technologies is anticipated to exhibit strong financial performance in the coming years, driven by growth opportunities, a shift in manufacturing strategies, and solid fundamentals, according to market analysts.