Tata Technologies IPO opens in pre-application mode, Know all the details.

Tata Technologies IPO, one of the most anticipated IPOs of the season, is now open for pre-registration. Pre-filing an IPO means that you can request an offer in advance before it starts offering on the opening day.

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Tata technology IPO
Tata Technologies IPO: Date of subscription will open on 22nd November 2023 and price band of the public issue has been fixed at ₹475 to ₹500 per equity share (Image Courtesy : ET)

The IPO, which opens fairly Wednesday, November 22 and closes on November 24, is the Tata Group’s first IPO in 20 years. Shares of Tata Technologies are already trading at a premium of 70% on the gray market at ₹ 475-500 per share compared to the issue price of ₹ 340-345 per share. The Tata group company has fixed Tata Technologies IPO price at ₹475 to ₹500 apiece levels.
Analysts noted a commendable rise in Gray Market Premium (GMP) for Tata Technologies IPO despite muted sentiment on Dalal Street. Tata Technologies IPO GMP rose by around ₹240 to ₹375 in two days, indicating a strong investor response when the public issue opens on November 22, 2023.
However, according to financial analysts, Gray Market Premium (GMP) should not be given much weightage as it is unregulated and purely speculative. They emphasized that the gray market premium has no correlation with the company and financial situation. They further noted that sometimes the GMP can be artificially inflated, especially when it involves individuals with a significant interest in a potential IPO. As a precaution, investors were advised to thoroughly research the company and its balance sheet before making an investment decision in the primary market. Bigul CEO Atul Parakh speaking about the Tata Technologies IPO said, “TATA Technologies is the next week’s IPO that everyone has been waiting for.
The IPO’s face value is priced at ₹2 and has good valuation comfort compared to peers KPITTECH and TATAELXI. The company is also. backed by TATA , which has a solid financial and perspective. Investor interest also points to likely strong IPO profits, which is also an important factor in retail interest in the stock.” A Bonanza portfolio expert said the Tata Technologies IPO was launched at an attractive valuation compared to its peers such as Tata Elxsi, KPIT Technologies, L&T Technology Services etc.

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