Tata Technologies Poised for Blockbuster Listing on Nov 30, Experts Anticipate 75-80% Premium

Tata Technologies is set to make a grand debut on the stock market on November 30, marking the first IPO from the Tata Group in over 19 years since Tata Consultancy Services in 2004. Experts forecast a striking 75-80 percent listing premium over its Rs 500 per share issue price, potentially opening the stock at Rs 875-900 per share.

Also Read: Tata Tech IPO Allotment Status: How to Check allotment Status on Link Intime and BSE

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This impressive expectation stems from the company’s strong foundation under Tata Group, robust financial performance, and promising growth prospects in the engineering services sector. The IPO, which stood out among five others launched last week, saw an overwhelming response with a 69.4 times oversubscription during its November 22-24 offering.

Also Read: Tata Technologies IPO: The offer price of Tata Technologies has been fixed at Rs 500 per share

Leading the charge were qualified institutional buyers, who subscribed 203.41 times their quota, a figure only surpassed by Netweb Technologies in July. Retail investors and high net worth individuals also showed significant interest, with subscriptions of 16.5 and 62.11 times their portions, respectively. Tata Technologies employees and Tata Motors shareholders participated actively too.

An outstanding aspect of the IPO was the record-breaking 73.58 lakh applications, surpassing the previous record held by LIC’s IPO in May 2022. Prashanth Tapse of Mehta Equities anticipates a substantial listing gain, citing the Tata Group’s legacy of rewarding shareholders and the company’s robust global business model.

Also See: Tata Technologies IPO GMP

Tata Technologies, a Pune-based global engineering services company, specializes in product development and digital solutions for OEMs and tier-1 suppliers. Its strong growth and profitability, with net profit and revenue CAGRs of 60% and 36% respectively from FY21-FY23, position it favorably in the global ER&D market, which is expected to grow to $2.67 trillion by 2026.

Despite not receiving any funds from the IPO, as it was purely an offer-for-sale by promoter Tata Motors and other investors, Tata Technologies’ market capitalisation is projected to exceed Rs 20,000 crore at the issue price. With its focus on manufacturing-oriented engineering research & development, particularly in the automotive sector, the company is poised to benefit significantly from global ER&D spending trends.

Also Read: Link Intime IPO Allotment Status: How to check Link Intime IPO allotment status

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