Tata
Technologies IPO: The initial public offering (IPO) of the Tata
Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on tomorrow. Tata Technologies IPO date of subscription will remain open till 24th
November 2023 i.e. till Friday this week. The Tata grop company has fixed Tata Technologies IPO price band at ₹475 to ₹500 per share levels. Tata Technologies Ltd aims
to raise ₹3,042.51 crore from this initial offer, which is
completely offer for sale (OFS) in nature.
 |
IPO Lunch Photo:- TATA Technologies
|
Tata Technologies IPO GMP today
According to market observers,
Tata Technologies IPO grey market premium (GMP) today is ₹351,
which is unchanged from yesterday's GMP of ₹351. This means, Tata
Technologies IPO GMP has remained steady despite choppy trends on Dalal Street.
They went on to add that Tata Technologies IPO GMP has more or less remained
steady in last three days despite not so exciting trend on Dalal Street, which
is praiseworthy as shares of Tata Technologies Ltd are still available at a
premium of 70 per cent against Tata Technologies IPO price band of ₹475
to ₹500
per equity share. They said that strong sentiments in grey market signals
strong response to the public issue once it opens on tomorrow.
However, stock market
experts maintained that one should not decide investment decision on the basis
of grey market sentiments. They said that GMP is non regulated and completely
speculative. They went on to add that sometimes GMP can be artificial as well
because it involves even those who have high stake involved with the public
offer. They advised investors to scan balance sheet of the company as it would
give concrete fundamental picture of the company for long term.
Tata Technologies IPO details
Tata Technologies IPO applicants will be to apply in lots and
one lot of the public issue would comprise 30 company shares. So, a retail
investor would require at least ₹15,000 ( ₹500
x 30) to apply for this much awaited public issue. Tata Technologies IPO date
of opening is 22nd November 2023 and it would remain available for bidding till
24th November 2023. Tata Technologies IPO allotment date is most likely on 27th
November 2023 whereas most likely Tata Technologies IPO listing date is 29th
November 2023.
Tata Technologies IPO review
Giving ‘subscribe’ tag to Tata Technologies IPO Ventura said,
"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."
Arihant Capital has also recommended 'apply' tag to the public
offer citing, "Tata Technologies Limited provides a diverse range of
services encompassing IT consultancy, SAP implementation, and CAD/CAM
engineering and design consultancy. The revenue breakdown as of FY23 indicates
approximately 80% from services, 11% from products, and 9% from education.
Strong partnerships, including with Dassault and Siemens, and utilization of Microsoft AZURE
products enable global expansion. Recent empanelment by Airbus signals
significant growth potential.The company's revenue and PAT demonstrated a CAGR
of 36% and 62%, respectively, from FY21 to FY23. In H1FY24, there was a 34% and
36% YoY growth in revenue and PAT. Robust earnings growth is anticipated moving
forward. Tata Technologies has outpaced Tata Elxsi, L&T Technologies, and KPIT Technologies in revenue CAGR over the
last three years. At an upper band valuation of INR 500, the issue's valued at
a PE ratio is 32.5x based on FY23 EPS. We recommend subscribing to the issue
for both short-term listing gains as well as long-term investment
prospects."
No comments:
Post a Comment