Tata Technologies IPO Opens Today: Tata Technologies, the primary preliminary public providing by the Tata Group in virtually 20 years, attracted the best gray market premium amongst the 5 mainboard IPOs to be launched this week. The Rs 3,042.51 crore public provide is solely a proposal-for-sale of 6.08 crore shares, which is 15 per cent of the paid-up capital. Tata Technologies IPO goes to hit the Indian main market on 22, November 2023 i.e. right this moment. Tata Technologies IPO date of subscription will stay open until 24, November 2023 i.e. until Friday this week.
Tata Technologies IPO: Subscription Status
Tata Tech IPO will get absolutely subscribed throughout the first hour of subscription:
QIB Portion: 1.98x
NII Portion: 1.25x
Retail Portion: 86%
Employee Portion: 11%
Shareholder Portion: 95%
Overall: 1.17X
Tata Technologies IPO: Price Band
The three-day challenge, which runs until November 24, has a worth band of Rs 475-500 per share with quite a bit dimension of 30 fairness shares and its multiples thereof. Analysts peg the publish challenge market cap between Rs 19,269 crore and Rs 20,283 crore.
Tata Technologies IPO: Important Dates
Tata Technologies IPO date of opening is 22, November 2023 and it might stay out there for bidding until 24, November 2023. Tata Technologies IPO allotment date is almost certainly on 27, November 2023 whereas the almost certainly Tata Technologies IPO itemizing date is 29, November 2023.
Tata Technologies IPO: Lot Size
Tata Technologies IPO candidates will probably be to use in heaps and one lot of the general public challenge would comprise 30 firm shares. So, a retail investor would require not less than Rs 15,000 ( Rs 500 x 30) to use for this a lot-awaited public challenge.
Tata Technologies IPO: About the Company
Incorporated in 1994, Tata Technologies is a world engineering providers firm providing product improvement and digital options, together with turnkey options, to world authentic tools producers (OEM) and their tier 1 suppliers. Backed by Tata Motors, the corporate boasts in depth data within the automotive sector and has expanded its experience into aerospace and heavy building equipment, enhancing its business alternatives. As of September 2023, it had 12,451 staff.
Tata Technologies IPO: Financials
On the monetary entrance, the corporate reported a turnover of Rs 2,381 crore, Rs 3,530 crore and Rs 4,414 crore for FY21, FY22 and FY23, respectively, on a consolidated foundation. It posted a web revenue of Rs 239 crore, Rs 427 crore and Rs 624 crore, respectively, for the aforementioned interval.
Tata Tech’s development trajectory over FY16-23 stays slower than friends’, however has seen enchancment within the final three years due to traction in choose accounts. Weakness in a big shopper in H1FY24 attributable to close to completion of the massive full-car improvement tasks could weigh on the corporate’s close to-time period efficiency which, is satisfactorily captured within the IPO valuations, Emkay Global mentioned in a observe.
Tata Technologies IPO: Highest GMP Among Current IPOs
Shares of the stationary model can be found at a premium of ₹351 within the gray market right this moment, say market observers.
The gray market is an unofficial platform whereby the IPO shares may be purchased and offered until the itemizing.
Tata Technologies IPO: Should you Invest?
Giving ‘subscribe’ tag to Tata Technologies IPO Ventura mentioned, “With the gradual recovery in the global economy, rising manufacturing capex and shift in manufacturing from US/Europe/China to India due to cost inflation and China+1 strategy, we are expecting strong in the TTECH’s financial performance in the coming years. At the IPO price of INR 500 (upper price band), TTECH is valued at a TTM P/E of 28.3X. Considering the growth opportunities and strong fundamentals of TTECH, we recommend a SUBSCRIBE rating for this IPO.”
JM Financial, Citigroup Global Markets India, and BofA Securities India are the guide-operating lead managers to the IPO, whereas Link Intime India Private Limited is the registrar
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