BackTata Technologies IPO: GMP remains steady. Price, lot size, other details of upcoming IPO
Tata Technologies IPO GMP today: Shares of the upcoming IPO are available at a premium of ₹352 in grey market today
PremiumTata Technologies IPO: the initial public offering (IPO) of Tata Technologies Ltd is going to hit primary market on 22nd November 2023. Bidding for Tata Technologies IPO will remain open till 24th November 2023. Hence, Tata Technologies IPO will open on Wednesday this week and it will remain open for bidders till Friday this week. The Tata group company has fixed Tata Technologies IPO price at ₹475 to ₹500 apiece levels.
Meanwhile, grey market has remained steady on Tata Technologies IPO. According to market observers, shares of Tata Technologies Ltd are available at a premium of ₹352 in grey market today.
Tata Technologies IPO GMP today
Market observers said that Tata Technologies IPO grey market premium (GMP) today is ₹352, which is almost unchanged as it is ₹17 lower from its weekend GMP of ₹369 per share. Market observers said that ₹17 dip should not be a worry for investors as Tata Technologies IPO GMP is still near 70 per cent of Tata Technologies IPO price band of ₹475 to ₹500. They said that Tata Technologies IPO date of subscription opening is fast approaching and stock market mood was also down on Friday. So, this ₹17 dip is comparatively good for the book build issue.
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Market observers maintained that Tata Technologies IPO GMP today signals strong response from investors as 70 per cent premium is something that everybody would like to have in one's portfolio. However, they cautioned that probability of share allocation may go down if the Tata Technologies IPO subscription status remains high during Tata Technologies IPO date of subscription, which has been already announced from 22nd November to 24th November 2023.
However, stock market experts maintained that GMP is non regulated and completely speculative. They said that grey market has no connect with financials of the company and hence it is not a reliable data to decide an important decision like investing in the IPO. They advised investors to scan balance sheet of the company as it will give concrete fundamental picture of the company.
Tata Technologies IPO details
A bidder will be able to apply in lots and one lot will comprise 30 Tata Technologies shares. In the wake of T+3 schedule, Tata Technologies IPO allotment date is most likely on 27th or 28th November 2023 whereas Tata Technologies IPO listing date may fall on 29th November 2023.
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