The Tata Technologies IPO is all set to open for public subscription on November 22, 2023, marking a significant moment for the company and its stakeholders. With a closing date of November 24, 2023, this IPO offers a narrow window for investors to participate. The pricing of the IPO is another critical aspect, with the price band set between ₹475 to ₹500 per equity share. This range is indicative of the company’s valuation and market expectations.
A total of 95,708,984 shares are to be issued under this IPO, reflecting the scale of the offering. The allotment of these shares is expected to be finalized by November 30, 2023. Following the allotment, the company is slated for its market debut with a tentative listing date on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) set for December 5, 2023. This listing is not just a milestone for Tata Technologies but also a significant event for market watchers and investors.
One of the noteworthy aspects of this IPO is its Grey Market Premium (GMP), which stands around Rs 250 per share. This figure is a strong indicator of the market’s sentiment and expectations from the IPO. It suggests a robust demand and a potentially strong listing for Tata Technologies. Furthermore, Tata Motors’ involvement adds another layer of interest to this IPO. Tata Motors is looking to offload a 10% stake in Tata Technologies through this offer-for-sale, aiming to raise a substantial amount of approximately Rs 3,042.51 crore. This move by Tata Motors is significant for both the companies, highlighting Tata Technologies’ growth trajectory and future prospects in the technology sector.