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The first public issue from the Tata Group in the last 20 years opens for subscription on November 22 and the final day for bidding will be November 24. Tata Consultancy Services IPO in 2004 was the last such offer from the group
Shares of Tata Investment Corporation (TIC) have been on a winning run in the calendar year 2023 with the counter having doubled investors money on a year-to-date basis. The recent surge in the stock follows a value-unlocking exercise by Tata Motors in its subsidiary Tata Technologies through a Rs 3,000-crore IPO which opens on November 22.
Tata Investment Share Price: Tata Investment Corporation shares rallied more than 15 per cent to hit a 52-week high on Monday
The valuations of Tata Technologies IPO appear to be around 27x 1 year forward, which is cheaper than the comparable listed companies, says Dhananjay Sinha.
“Tata Tech reported 18.4% of EBITDA margin in the six months for FY24 and the improvement has been enabled certainly by growth. We have clocked a cumulative average growth of close to 35% in the three-year between FY21 and FY3 and that healthy pace has continued into the first half of this year as well.”