Tata Technologies IPO: GMP, price, lot size, review, other details. Apply or not?

Tata Technologies IPO: After a gap of nearly two decades, Tata Group is coming with its initial offer today. The initial public offering of Tata Technologies Limited has hit the Indian primary market today and the book build issue will remain open for bidding till 24th November 2023. The Tata Group company has fixed the Tata Technologies IPO price band at 475 to 500 per equity share. The public issue worth 3,042.51 crore is proposed for listing on BSE and NSE. The public issue is 100 per cent.

Meanwhile, the grey market is signaling a bullish trend regarding Tata Technologies IPO. According to market observers, shares of Flair Writing Industries Limited are available at a premium of 351 in the grey market today.

Important Tata Technologies IPO details

1] Tata Technologies IPO GMP: Shares of the stationary brand are available at a premium of 351 in the grey market today, say market observers.

2] Tata Technologies IPO date: The public issue has opened today and it will remain open for bidding till 24th November 2023 i.e. till Friday this week.

3] Tata Technologies IPO price: The company has a fixed issue price of 475 to 500 per equity share.

4] Tata Technologies IPO size: The stationary brand aims to raise 3,042.51 crore from its initial offer. The public issue is 100 percent OFS (offer for sale) in nature.

5] Tata Technologies IPO lot size: A bidder will be able to apply in lots and one lot of the public issue comprises 30 company shares.

6] Tata Technologies IPO investment limit: As one lot of Tata Technologies IPO comprises 30 company shares and Tata Technologies IPO price band has been fixed at 475 to 500 per equity share, a retail investor will require a minimum of 15,000 ( 500 x 30) to apply for the Tata Technologies IPO.

7] Tata Technologies IPO allotment date: In the wake of the T+3 schedule, the initial public issue is expected to finalise the allocation of shares either on 27th November 2023 or latest by 28th November 2023.

8] Tata Technologies IPO listing: The public issue worth 3,042.51 crore is proposed for listing on BSE and NSE.

9] Tata Technologies IPO listing date: In the wake of the T+3 schedule, the public issue is expected to be listed on the third trade session after the closure of the public issue. As it is closing on 24th November 2023, which is Friday, the public issue is expected to be listed on Wednesday next week or on 29th November 2023.

Tata Technologies IPO: Apply or not?

10] Tata Technologies IPO review: Giving ‘subscribe’ tag to the public issue, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, “Tata Technologies Limited is a leading player in the EV segment and has helped many companies globally to launch EV, re-engineer ICE to EV and also assist in the role of EV as the way forward. The company reported revenues of 4,414 crore for the year ended March 23 and 2,526 crore for the six months ended September 23. It has a PAT margin of 14.14%. The EPS for March 23 was 15.37. The PE multiple at the price band is 30.90-32.53. The issue is attractively priced, and offers scope for appreciation in the short to medium term. The size of the issue is relatively small at just about 3,000 crore. The hype about the issue, will leave many investors dissatisfied about the non-allotment. In any case, an investment must be made.”

Advising investors to apply for Tata Technologies IPO, Rajesh Sinha, Sr. Research Analyst at Bonanza Portfolio said, “At the upper price band, the market cap post issue will be Rs.20,283.43Crs. At the upper price band, Tata Technologies is valued at 28.3x TTM EPS of Rs.17.7/- making the IPO much undervalued compared with its peers like Tata Elxsi (which traded at 65.9x TTM EPS), KPIT Technologies (86.2x TTM EPS), L&T Technology Services (37.0x TTM EPS). We advise investors to subscribe to the IPO for medium to long term perspective.”

Giving ‘subscribe’ tag for long term, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “On Valuation parse at upper price band of 500 and based on annualized earnings and fully diluted post-IPO paid-up capital, the issue is asking for a Market Cap of 20,283 Cr with P/E of 29x on consolidated basis, which seems the issue is reasonably priced when compared industry peers which are trading ~60x. Despite the 100% OFS offer investors are keen to own the share based on the group’s legacy. Considering all the parameters, we strongly advocate a good long-term prospect for the company. Hence, we recommend investors to “SUBSCRIBE” to the TATA TECH IPO offer with a long-term perspective as well as strong listing gain due to investor-friendly pricing given good room for upside.”

Reliance Securities, Arihant Capital, Ventura, and Investmentz have also given a ‘subscribe’ tag to Tata Technologies IPO.

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 decision.

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Updated: 22 Nov 2023, 06:47 AM IST

First appeared on www.livemint.com

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