The IPO of Tata Technologies was open for subscription between November 22-24 at a price band in the range of ₹475-500 per share. The IPO was subscribed 69.43 times during November 22-24. Tata Technology shares are likely to be listed on the bourses on Thursday, November 30. The IPO is entirely an offer for sale (OFS) of 6.09 crore equity shares by the promoter and investors. Tata Technologies is a subsidiary of automobile major Tata Motors and is a pure-play manufacturing-focused Engineering Research & Development (ER&D) company, primarily focused on the automotive industry. Most analysts had a subscribe rating for the Tata Technologies IPO because of the company’s improving financials, strong brand legacy and reasonable valuations. Tata Technologies IPO GMP today is ₹414. The grey market premium is only an indicator of how the company’s shares are performing in the unlisted market and can change quickly. By Coshorts
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