Tata Technologies IPO: GMP remains steady. Price, lot size, other details of upcoming IPO

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Tata 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.

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. Also Read: Tata Technologies IPO vs IREDA IPO vs Gandhar Oil Refinery IPO: Which upcoming IPO is better? 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.