Tata Technologies IPO opens under pre-apply mode. All you need to know about the issue

livemint.com:

₹475 - ₹500 per equity share, against the issue price of ₹340 - ₹345 per piece. Analysts noted the commendable increase in Tata Technologies IPO Grey Market Premium (GMP) despite the subdued sentiments prevailing on Dalal Street. Over the span of two days, the Tata Technologies IPO GMP surged from approximately ₹240 to ₹375, indicating a robust investor response as the public issue is set to open on November 22, 2023.

Nevertheless, according to financial analysts, Grey Market Premium (GMP) should not be given significant weight as it lacks regulation and is entirely speculative. They emphasized that the grey market premium does not have any correlation with the company's financials. Additionally, they pointed out that at times, the GMP can be artificially inflated, especially when individuals with significant stakes in the upcoming IPO are involved.

As a precaution, investors were advised to thoroughly examine the company's balance sheet before making any investment decisions in the primary market. Sepaking on Tata Technologies IPO, Atul Parakh, CEO at Bigul said, “TATA Technologies will be the IPO to look upon in the next week, which everyone has been waiting for. The IPO is coming with a face value of ₹2 with good valuation comfort concerning its peers in the names of KPITTECH and TATAELXI.