Tata Tech IPO coming soon, experts prognosticate share price; full details

By Ritwik Ghosh,Kolkata India


Tata Tech IPO The company is likely to offer 9.57 crore shares in its planned IPO.
Tata Tech IPO Tata Technology, a attachment of Tata Motors, is likely to advertise its utmost anticipated original Public Offering ( IPO) soon. The leading global engineering services company has filed an addendum with the Securities and Exchange Board of India ( SEBI) to its draft red herring prospectus( DRHP), this week.
According to the addendum, Tata Technologies is likely to offer 9.57 crore shares in its planned IPO with a face value of ₹ 2 per share.
As part of the important- awaited Tata Tech IPO, Tata Motors will vend up to 8.11 crore shares via offer for trade, nascence TC will vend up to9.71 crore shares, Tata Capital Growth Fund I’ll offer up to 48.58 lakh shares, according to Mint.

The company has also blazoned that 10 of the shares offered in Tata Tech IPO will be reserved for its workers as well as shareholders of parent Tata Motors Ltd, reported Mint.

“workers eligible to buy shares in Tata Tech IPO can apply in the Hand Reservation Portion. They can apply at the cut- off Price. The maximum shot quantum under the TML shareholders reservation portion by an eligible TML Shareholder shall not exceed ₹ 2 lakh. On the other hand, the maximum shot quantum under the hand reservation portion by an eligible hand should be under ₹ 5 lakh,” the addendum said.
The company has also appointed fiscal institutions like JM Financials, Citi, and Bo FA Securities to grease the IPO process.

Tata Tech IPO What experts are saying
Mohit Gulati, CIO & Managing Partner of ITI Growth openings Fund, told Mint that the Tata Tech IPO is a significant step for the Tata Group to reduce its debt.

He also refocused out that a price per share could nicely be around ₹ 280 to ₹ 320.

“ ₹ 18k to ₹ 20k- crore request- cap will be fair in my opinion. Euphoria can presumably take it to 30- 35k. Anything above that’s a sure stretch,” Gulati said.

Vinit Bolinjkar, Head of Research, Ventura Securities, told Mint that companies in the Engineering Research and development( ER&D) assiduity are likely to parade superior business prospects in comparison to traditional IT enterprises.
He refocused out these companies have an enhanced growth eventuality both within India and abroad, adding that this is a result of sustained investments in new product development and process optimization.

“ Tata Tech, as a progressive player in the global ER&D sector, stands poised for robust growth. We’re confident that Tata Tech will meet investors’ prospects, especially considering the current buzz in the primary request this time,” added Bolinjkar.

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