Tata Technologies IPO Likely To Hit D-Street Next Month: Check GMP, Date, Price Band And Other Details Here

Tata Technologies Ipo is expected to hit Dalal Street next month i..e November 2023. The date when the initial public offering (IPO) of Tata Technologies will open for subscription is not confirmed yet, however, this is undoubtedly one of the most-watched IPOs this year. Noticeably, this is the first time after a gap of almost 20 long years that Tata Group will launch its IPO in the primary market.

According to market experts, the IPO of Tata Technologies is likely to mark its entry into the share market in the second or third week of November.

Tata Technologies shares are likely to be issued in the price range of Rs 450-500 per share and as of Thursday (Oct 26) it has a Rs 240 premium in the unofficial market. Tata Technologies Ltd, a subsidiary of Tata Group has reportedly submitted an addendum for its public issue after getting SEBI's approval for the launch of its initial offer.
Meanwhile, it is also believed that one of the promoters, Tata Motors (a listed entity) is probably offloading its stake in Tata Technologies Ltd. Thus, Tata Technologies IPO could possibly be launched a fortnight after Tata Motors Q2FY24 results announcement.

Tata Technologies IPO Size

According to 5paisa, the overall IPO of Tata Technologies will comprise of an entire offer for sale (OFS) for 95.71 million shares (9.57 crore shares) by the existing promoters and shareholders of Tata Technologies. The issue is an offer for sale (OFS), there will be no fresh funds coming into the company.

Out of the total offer for sale of 95.71 million shares by existing promoters and shareholders.

Tata Technologies IPO Objective

It is believed that one of the objectives of Tata Technologies IPO is to carry out the Offer for Sale of up to 95,708,984 Equity Shares by the Selling Shareholders.

Tata Technologies IPO Price band

The price band of Tata Technologies IPO is not confirmed yet. In case of higher valuations, investors expect Tata Technologies IPO price to be at around Rs 315 to Rs 320 per equity share.

Tata Technologies IPO GMP

According to IPO Watch, the Tata Technologies IPO GMP or Grey Market Premium is Rs 250.

Tata Technologies IPO Reservation

According to reports, Tata Technologies IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.