Tata Technologies IPO likely to go ahead in mid-November

Tata Technologies is expected to launch its initial public offering (IPO) in mid-November, according to reports. The IPO will be the first one from a Tata Group company in nearly 2 decades.

The unlisted share price of Tata Technologies has risen ahead of the anticipated IPO launch. According to Unlisted Arena, the share price of Tata Technologies rose to Rs 950 in September compared to Rs 850 in August.

Tata Motors had announced that it was selling a 9.9 percent stake in Tata Technologies for Rs 1,613.7 crore ahead of the IPO.

Manan Doshi, Co-Founder, Unlisted Arena said “Investors in unlisted shares of Tata Technologies have seen substantial gains in the run-up to its impending IPO. Tata Technologies unlisted shares, which were previously trading at a modest Rs 90-100 in 2020, have surged to approximately Rs 900 currently. The anticipation surrounding the IPO is marked by an expected pricing range of Rs 400-450, considering the recent 9.9 percent stake sale by Tata Motors. However, when compared to its closely listed peers such as KPIT Tech, which command significantly higher valuations, the unlisted market is brimming with optimism for a remarkable market debut, provided the issue price aligns with these optimistic projections.”