Tata Technologies IPO: GMP, expected date, price, other details that you may want to know
Tata Technologies IPO: After a gap of near two decades, Tata group is coming with an initial public offering (IPO). The Tata group has already received nod for the launch of Tata Technologies IPO launch from the market regulator Securities and Exchange Board of India (SEBI). Even though, Tata Technologies IPO price is yet to get announced by the company, market experts believe that issue will be priced around ₹268 apiece levels.
In fact, Tata Technologies shares have made its debut in the unlisted market as well. As per the market observers, shares of Tata Technologies are available at a premium of ₹100 in grey market today. Though Tata group company is yet to announce Tata Technologies IPO date of opening and price band, Tata Technologies shares are available in unlisted stock market.
As per the market observers, Tata Technologies IPO grey market premium (GMP) today is ₹100, which was ₹84 on last weekend. This means, grey market has gone bullish on Tata Technologies IPO as GMP surged from ₹84 to ₹100 in one week. On Tata Technologies IPO expected price, Rajesh Sinha, Senior Research Analyst at Bonanza Portfolio said, "Tata Technologies has reported TTM revenue of ₹3,983 crore and TTM Net Profit of ₹513 crore, resulting an TTM EPS of ₹12.65.
If we want to compare Tata Technologies, we can compare with Cyient, as Cyient is mostly into same business and TTM revenue of ₹6,016 crore. Currently, Cyient is trading at 23.5x TTM EPS of ₹46.52. We have valued Tata Technologies at 10 per cent discount to the multiple assigned to Cyient at 21.2x TTM EPS to arrive at intrinsic value of ₹268 per share.
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