Tata Technologies IPO Day 3: Discover the groundbreaking Tata Technologies IPO, marking its closure today with an unprecedented 15.1 times subscription. Breaking records as the most subscribed private company IPO, this opportunity offers investors a strategic entry into the ER&D space. With a lower price band of ₹475 and upper at ₹500, the grey market premium of ₹403 underscores its desirability. Seize the chance before it closes on November 24th.
Tata Technologies IPO Day 3: Today Marks the Final Opportunity to Subscribe to Tata Technologies IPO as Record-Breaking Applications Flood In
Tata Technologies is on the verge of concluding its initial public offering (IPO) subscription window, set to close on Friday, November 24. The highly anticipated IPO has exceeded all expectations, witnessing an unprecedented surge in applications during the first two days.
As of the conclusion of Day 2, the subscription status for the Tata Technologies IPO stands at an impressive 15.1 times. The Tata Group entity has set a remarkable record as the most subscribed IPO by a private company, attracting a staggering 51 lakh applications within the initial two days.
Nuvama Institutional Equities, a domestic brokerage, affirms that Tata Technologies IPO has secured this unprecedented distinction, surpassing notable companies like Nykaa, Reliance Power, and Zomato. Notably, both SBI Securities and Swastika have given the issue a ‘subscribe’ recommendation, deeming it advantageous for all investors.
In its report, SBI Securities emphasizes, “At the upper price band of ₹500, Tata Technologies is trading at 32.5x FY23 P/E multiple. Compared to its peers with relatively expensive valuations, such as 108.9x for KPIT, 68.5x for Tata Elxsi, and 40.1x for LTTS, we believe Tata Technologies, with its relatively cheaper valuations, is well positioned to capitalize on growth opportunities in the ER&D space. We recommend investors to SUBSCRIBE to the issue.”
Tata Technologies IPO: Price Band and Lot Size
The IPO’s lower and upper price band is ₹475 and ₹500, respectively. Interested applicants can acquire a minimum of 30 shares, translating to a minimum investment of ₹14,250 at the lower price band (₹475).
Valued at ₹20,283 crore according to the IPO’s upper price band, Tata Technologies’ grey market premium currently stands at ₹403. The stability of the grey market premium over the week preceding the IPO launch underscores the widespread desirability of the offering among subscribers.