Four IPOs including Tata Tech to open today: Which ones should you subscribe? Check details

Mumbai, India – Investors are gearing up for a busy week in the Indian stock market as four initial public offerings (IPOs) are set to open today, November 22, 2023. Tata Technologies, Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery are among the companies looking to raise capital from the public. All these IPOs are scheduled to close on November 24, providing potential investors with a limited window to make their decisions.

Also Read: Moneycontrol Interviews Amit Jain: Tata Technologies IPO’s Potential as a Multi-Year Growth Story

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Here’s a closer look at each of the four IPOs and what analysts are saying about them:

1. Tata Technologies IPO:

  • Offer size: Rs 3,042.51 crore
  • Offer type: Offer-for-sale
  • Price band: Rs 475-500 per share

Tata Technologies’ IPO consists entirely of an offer-for-sale of 6.08 crore shares, which accounts for 15 percent of the paid-up capital. Notably, there is no fresh issue component, meaning that Tata Technologies will not receive any funds from this IPO. Instead, all the proceeds will go to the selling shareholders. At the upper price band, the company is valued at Rs 20,283 crore.

Also Read: Tata Technologies IPO Valuations Attract Investor Interest

Analysts at IDBI Capital, Reliance Securities, Arihant Capital, and Mehta Equities have all assigned a ‘Subscribe’ rating to the issue. They highlight the healthy business prospects, strong parentage, and decent financials, with an improvement in margins and ratios as compelling reasons to consider this IPO.

2. Fedbank Financial Services IPO:

  • Offer size: Rs 1,092.26 crore
  • Offer type: Fresh issue and offer-for-sale
  • Price band: Rs 133-140 per share

Fedbank Financial Services, a non-banking financial company (NBFC), aims to raise Rs 1,092.26 crore through its public offer. This IPO includes a fresh issuance of 4.29 crore shares worth Rs 600.77 crore by the company itself and an offer-for-sale (OFS) of 3.51 crore equity shares worth Rs 492.26 crore at the upper price band by the selling shareholders.

Also Read: Fedbank Financial Services Limited IPO Details

Anand Rathi and StoxBox have recommended investors subscribe to the issue, citing reasonable valuation and the company’s impressive growth in assets under management (AUM) compared to its peers in the NBFC sector. However, Nirmal Bang has assigned a ‘Neutral’ rating, noting that the NBFC delivered a lower Return on Assets (RoA) in FY23 compared to the industry average.

3. Flair Writing Industries IPO:

  • Offer size: Rs 593 crore
  • Offer type: Fresh issue and offer-for-sale
  • Price band: Rs 288-304 per share

Flair Writing Industries is seeking to raise Rs 593 crore through its IPO, comprising a fresh issue of 96.05 lakh shares worth Rs 292 crore and an offer-for-sale of 99.01 lakh shares worth Rs 301 crore.

Also Read: How to Apply for Flair Writing IPO on Groww, Zerodha, and Upstox

Choice, Anand Rathi, and StoxBox have given the issue a ‘Subscribe’ rating due to its decent financials, reasonable valuation, and strong presence in the writing instruments industry.

4. Gandhar Oil Refinery IPO:

  • Offer size: Rs 500.69 crore
  • Offer type: Fresh issue and offer-for-sale
  • Price band: Rs 160-169 per share

Gandhar Oil Refinery plans to raise Rs 500.69 crore through its IPO, which includes a fresh issue of 1.78 crore shares worth Rs 302 crore and an offer-for-sale of 1.17 crore shares worth Rs 198.69 crore.

Also Read: Gandhar Oil Refinery India Limited IPO Details

BP Wealth, Swastika Investmart, and StoxBox have assigned a ‘Subscribe’ rating to the issue, citing healthy financial performance, expansion of the product portfolio, growing overseas business, and fair valuation as key reasons to consider this IPO.

Disclaimer:

Investors are advised to exercise caution and consult with certified financial experts before making any investment decisions. The views and investment tips expressed by experts are their own and do not necessarily reflect the views of Stockesta.com or its management. Make informed investment decisions based on your individual financial goals and risk tolerance.

As these IPOs open for subscription, investors should carefully assess their investment objectives, risk appetite, and the recommendations of financial experts to determine whether these offerings align with their investment strategies.

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