Page 16 - Tata Tech News Today

Tata Tech IPO, which closes on November 24, is the first from Tata Group since TCS, which is also one of the reasons why the issue is generating considerable buzz. Analysts are overwhelmingly positive on the issue and, in fact, prefer the IPO over four other issues currently open.

Analysts across the board have given a thumbs up to the IPO asking to subscribe to it or buy it post listing and have several positive reasons backing the same.

Among them, 16 stocks have risen to a record high, indicating strong resilience. Meanwhile, the Nifty itself rose just 1 percent.

Tata group last brought TCS to the market 20 years ago. As it turned out, the IT services company created enormous wealth for investors and in the process joined the elite list of most valuable companies in the country. Analysts see no reason why Tata Technologies cant create wealth for investors and are extremely bullish on the public offer.

Tata Technologies, Flair Writing Industries and Gandhar Oil Refinery IPOs have already been fully subscribed while Fedbank Financial Servicess had a slow start

The Tata Group company, which has launched its first IPO in the last two decades, plans to raise Rs 3,042 crore through the public issue.

“I would buy real estate stocks if there is a small correction of about 5%, 10%. These are all high beta stocks. Interest rates have not really gone down. I am a little surprised that even at higher interest rates, these kinds of numbers are being delivered. So I want to have some exposure. But purely from a momentum perspective, on a dip.”

IREDA IPO| The offer a fresh comprise a fresh issue of 40.31 crore equity shares worth Rs 1,290.13 crore and an offer-for-sale of 26.87 crore shares worth Rs 860.08 crore by the government

Tata Technologies is raising a total of Rs 3,042.51 crore via its initial stake sale in the fixed price band of Rs 475-500 per share in the lot size of 30 equity shares.

Tata Technologies IPO Subscription status: Total bids for 39,83,81,160 shares received against available 4,50,29,207 shares, with a Grey Market Premium of +395.