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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 can't 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 Services's had a slow start