Tata Technologies Ltd is set to launch its initial public offering (IPO) on November 22, 2023, with bidding open until November 24, 2023. The Tata group company has fixed the IPO price band at ₹475 to ₹500 per equity share. Following the announcement of the IPO date and price band, the grey market has displayed a bullish trend, with Tata Technologies shares commanding a premium of ₹340.
Market observers note that the grey market premium (GMP) for Tata Technologies IPO has risen by ₹90 from yesterday morning, indicating heightened interest and positive sentiment in the market. This IPO marks Tata group’s return to the market after nearly two decades, aligning with the current bullish mood on Dalal Street.
Tata Technologies IPO GMP Today
The current GMP for Tata Technologies IPO is ₹340, suggesting an anticipation that the listing price could be around ₹840 per equity share. This projection reflects a 68% increase from the IPO’s price band of ₹475 to ₹500 per equity share. While the grey market is signaling strong listing gains, experts caution that GMP is not always an ideal indicator and investors should consider the company’s balance sheet and financials for a more comprehensive assessment.
The public issue, offering 30 company shares in one lot, aims to generate ₹3,042.51 crore through a 100% offer for sale (OFS). Investors are eagerly awaiting the subscription opening on November 22, with bidding concluding on November 24. As market participants gear up for Tata Technologies IPO, the grey market surge suggests optimistic expectations for listing gains.
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