Tata Technologies IPO: GMP jumps as issue opens next week. Date, price, review, lot size, other details of upcoming IPO
Tata Technologies IPO: The initial public offering (IPO) of Tata Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on Wednesday next week. The Tata group company has fixed Tata Technologies IPO price band at ₹475 to ₹500 per equity share.
Meanwhile, ahead of Tata Technologies IPO's date of subscription opening, grey market has gone highly bullish on the public issue worth ₹3,042.51 crore. According to market observers, shares of Tata Technologies Ltd are available at a premium of ₹375 in grey market today. As per the market observers, Tata Technologies IPO grey market premium (GMP) today is ₹375, which is ₹35 higher from yesterday morning GMP of ₹340.
However. Tata Technologies IPO GMP started to surge on Friday as the day progressed. At the time of stock market close on Friday, Tata Technologies IPO GMP was ₹367.
Market observers said that rise in Tata Technologies IPO GMP despite weak sentiments on Dalal Street is praiseworthy. They said that Tata Technologies IPO GMP has risen from around ₹240 to ₹375 in two days, which signals strong response from investors when the public issue opens on 22nd November 2023. Also read: Tata Technologies vs IREDA vs Gandhar Oil Refinery: Which is better? However, stock market experts said that GMP should not be taken so seriously as it is non regulated and completely speculative.
They said that grey market premium has no connect with company's financials. They said that sometimes, the GMP turns out artificial as well as it involves even those who have high stake involved in the upcoming IPO. They advised investors to scan balance sheet of the company before making any investment decision in the primary market.
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