Tata Technologies is stepping into the IPO arena, aiming to raise ₹3,042.51 crore through its initial offer, which is 100% Offer for Sale (OFS) in nature. If you’re thinking about jumping into the IPO game, here’s a breakdown of what you need to know.
IPO Details:
Size: Tata Technologies is looking to raise ₹3,042.51 crore through its IPO.
Investment Limit: With a price band of ₹475 to ₹500 per equity share, a retail investor will need a minimum of ₹15,000 (₹500 x 30) to apply for the Tata Technologies IPO.
Lot Size: A single lot in the IPO comprises 30 company shares.
Listing: The IPO, valued at ₹3,042.51 crore, is proposed for listing on both BSE and NSE.
Listing Date: Following the T+3 schedule, the IPO is expected to be listed on the third trading session after the public issue’s closure. With the IPO ending on November 24, 2023 (Friday), it is expected to be listed on Wednesday the following week or on November 29, 2023.
Face Value: In Tata Technologies IPO, the face value is ₹2 per share.
About Tata Technologies:
Tata Technologies operates in the Engineering Research and Development (ER&D) segment, a field expected to grow at a compounded annual rate of 10% to reach $2.7 trillion over the next five years. The company is well-positioned in the automotive sector, the largest manufacturing ER&D vertical, which is undergoing significant changes with the rise of Connected, Autonomous, Shared, and Electrified (CASE) mobility.
Why Consider Tata Technologies IPO:
Analysts from IDBI Capital, Reliance Securities, Arihant Capital, and Mehta Equities are giving a ‘Subscribe’ rating to Tata Technologies’ IPO. This positive recommendation is based on factors such as promising business prospects, strong parentage, and favorable financials. Analysts note improvements in margins and ratios, contributing to their optimistic view on the IPO.