Tata Technologies IPO: The initial public offering (IPO) of Tata Technologies Ltd is ready to hit Indian primary market on 22nd November 2023 and it will remain open for bidding till 24th November 2023. The Tata group company has already declared Tata Technologies IPO price band at ₹475 to ₹500 per equity share. Meanwhile, after announcement of Tata Technologies IPO date and price band, grey market has gone highly bullish on the public issue.
According to market observers, shares of Tata Technologies Ltd are available at a premium of ₹367 in grey market today.
Tata Technologies IPO GMP today
As mentioned above, Tata Technologies IPO grey market premium (GMP) today is ₹367, which is ₹117 higher from yesterday morning GMP of the book build issue. Market observers said that Tata group is coming with an IPO after a gap of near two decades. The public issue is coming at a time when market mood is highly bullish and market observers are expecting fresh bull market on Dalal Street. Apart from this, face value of the Tata group is also favouring the grey market sentiments. They said that investors were eagerly waiting for the launch of Tata Technologies IPO and once its date of subscription opening and price band is announced, grey market was bound to respond strongly in favour of the book build issue.
What this GMP mean?
Market observers said that Tata Technologies IPO GMP today is ₹340, which means grey market is expecting that Tata Technologies IPO listing price would be around ₹840 per equity share, which is 68 per cent highger from the Tata Technologies IPO price band of ₹475 to ₹500 per equity share. So, grey market is signaling strong listing gain from the public issue.
However, stock market experts maintain that grey market sentiment is not an ideal indicator about the listing premium. One should scan the balance sheet of the company as it is financials that reflect concrete fundamental picture for long term. They also advised investors that GMP should not be taken seriously as it involves even those who have high stake involved in the public issue.
The public issue will open for subscription on 22nd November 2023 and it will remain open for bidding till 24th November 2023. One log of the Tata Technologies IPO will comprise 30 company shares. The public issue is aimed at generating ₹3,042.51 crore and it is 100 per cent offer for sale (OFS0 in nature.
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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