Tata Technologies IPO: GMP, price, other details as issue opens tomorrow. Should you apply?

livemint.com:

Tata Technologies IPO: The initial public offering (IPO) of the Tata Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on tomorrow. Tata Technologies IPO date of subscription will remain open till 24th November 2023 i.e.

till Friday this week. The Tata grop company has fixed Tata Technologies IPO price band at ₹475 to ₹500 per share levels. Tata Technologies Ltd aims to raise ₹3,042.51 crore from this initial offer, which is completely offer for sale (OFS) in nature.

According to market observers, Tata Technologies IPO grey market premium (GMP) today is ₹351, which is unchanged from yesterday's GMP of ₹351. This means, Tata Technologies IPO GMP has remained steady despite choppy trends on Dalal Street. They went on to add that Tata Technologies IPO GMP has more or less remained steady in last three days despite not so exciting trend on Dalal Street, which is praiseworthy as shares of Tata Technologies Ltd are still available at a premium of 70 per cent against Tata Technologies IPO price band of ₹475 to ₹500 per equity share.

They said that strong sentiments in grey market signals strong response to the public issue once it opens on tomorrow. Also Read: IREDA IPO opens today. GMP, subscription status, price, review, other details.

Apply or not? However, stock market experts maintained that one should not decide investment decision on the basis of grey market sentiments. They said that GMP is non regulated and completely speculative. They went on to add that sometimes GMP can be artificial as well because it involves even those who have high stake involved with the public offer.