Tata Technologies IPO Opens On Tuesday: Tata Technologies, the primary preliminary public providing by the Tata Group in nearly 20 years, attracted the very best gray market premium amongst the 5 mainboard IPOs to be launched this week. Tata Technologies IPO goes to hit Indian main market on twenty second November 2023 i.e. tomorrow. Tata Technologies IPO date of subscription will stay open until twenty fourth November 2023 i.e. until Friday this week.
Tata Technologies IPO: Price Band
The three-day concern, which runs until November 24, has a value band of Rs 475-500 per share with quite a bit dimension of 30 fairness shares and its multiples thereof. Analysts peg the publish concern market cap between Rs 19,269 crore and Rs 20,283 crore.
Tata Technologies IPO: Important Dates
Tata Technologies IPO date of opening is twenty second November 2023 and it could stay accessible for bidding until twenty fourth November 2023. Tata Technologies IPO allotment date is most probably on twenty seventh November 2023 whereas most probably Tata Technologies IPO itemizing date is twenty ninth November 2023.
Tata Technologies IPO: Lot Size
Tata Technologies IPO candidates might be to use in heaps and one lot of the general public concern would comprise 30 firm shares. So, a retail investor would require at the very least Rs 15,000 ( Rs 500 x 30) to use for this a lot-awaited public concern.
Tata Technologies IPO: About the Company
Incorporated in 1994, Tata Technologies is a worldwide engineering providers firm providing product improvement and digital options, together with turnkey options, to world unique gear producers (OEM) and their tier 1 suppliers. Backed by Tata Motors, the corporate boasts intensive information 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 because of close to completion of the big full-automobile 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 word.
Tata Technologies IPO: Highest GMP Among Current IPOs
The world engineering providers firm’s shares have been accessible at Rs 850 apiece within the gray market, which is 70 per cent premium over the higher value band of Rs 500 per share, analysts mentioned on situation of anonymity to moneycontrol.com, including Gandhar Oil Refinery, Flair Writing and IREDA shares quoted at a 21-30 p.c premium, whereas Fedbank Financial Services was at round 8 p.c premium over the higher value band.
The gray market is an unofficial platform whereby the IPO shares will be purchased and bought 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-working lead managers to the IPO, whereas Link Intime India Private Limited is the registrar
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