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The company's shares are expected to get listed on the exchanges on November 30. According to market sources, Tata Technologies is commanding a premium of Rs 412 in the unlisted market. Considering the upper price band of Rs 500, the stock is likely to debut with a premium of 82%.
Tata Technologies is a subsidiary of automobile major Tata Motors and is a manufacturing-focused Engineering Research & Development
Hinduja Tech (HTL), the digital technology arm of Hinduja Group's flagship company Ashok Leyland, is in early talks with private equity funds to sell a minority stake in the company. HTL plans to raise around ₹830 crore ($100 million) at a valuation of $400 million (₹3,300 crore) to support its expansion in the e-mobility industry. The company has engaged investment bank Rothschild to find an investor.
Tata Technologies IPO: The company is expected to finalise the basis of allotment of IPO shares by November 28.
Analysts said the strong response for the IPO was due to attractive valuations compared to peers and Tata lineage, which enjoys strong brand value.