The Initial Public Offers (IPO) of Tata Technologies, Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery are now open for subscription until November 24. Interested investors have the opportunity to participate in these IPOs.
Tata Technologies operates in the Engineering Research and Development (ER&D) segment, which is projected to reach $2.7 trillion over the next five years, with a compounded annual growth rate of 10%, according to a Zinnov report. The automotive sector, the largest manufacturing ER&D vertical, is on the verge of significant change with the emergence of Connected, Autonomous, Shared, and Electrified (CASE) mobility. Zinnov estimates that global automakers will invest $1.2 trillion by 2030.
Tata Technologies aims to raise ₹3,042.51 crore through its initial offer, which is 100% Offer for Sale (OFS). With a price band of ₹475 to ₹500 per equity share, a retail investor will need a minimum of ₹15,000 (₹500 x 30) to apply for the IPO. A single lot in the IPO comprises 30 company shares. The IPO is expected to be listed on November 29, 2023, following the T+3 schedule.
The Offer for Sale consists of 60,850,278 shares offered by existing stakeholders in Tata Technologies. Analysts from IDBI Capital, Reliance Securities, Arihant Capital, and Mehta Equities have given a ‘Subscribe’ rating to Tata Technologies’ IPO. They are optimistic about the IPO due to promising business prospects, strong parentage, and favorable financials. Additionally, improvements in margins and ratios contribute to their positive view on the IPO.
