Tata Technologies IPO: After a gap of near two decades, Tata group is going to launch its initial public offer (IPO) in the primary market. One of the Tata group subsidiaries Tata Technologies Ltd has submitted addendum for its public issue after receiving SEBI's nod for the launch of its initial offer. Now, market is eagerly waiting for the launch of upcoming IPO.
According to stock market experts, wait for the upcoming IPO may end in the month of November 2023 i.e. next month. They said that one of the promoters offloading its stake in Tata Technologies Ltd is Tata Motors, which is a listed entity.
Hence, Tata Technologies IPO launch is possible after a fortnight of Tata Motors Q2FY24 results announcement. In case, Tata Technologies IPO is launched, then in that case Tata Motors Q2 results 2023 will have to wait for near two to three weeks post-IPO launch. As Tata Motors Q2 results 2023 is likely to be declared on 2nd November 2023 (Tata Motors is yet to make an official announcement in this regard), market rule suggests that the upcoming IPO can be launched in second fortnight of November 2023.
Speaking on the market rules in regard to Tata Technologies IPO launch, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "As per the market rules, if promoter of an upcoming IPO is a listed entity, then in that case the IPO can launched only after the two to three weeks of quarter results annoucement of the listed promoter. In other case, if the IPO date is announced, then in that case the listed promoter will have to wait for two to three weeks for declaration of its company results. As Tata Motors Q2 results 2023 is expected on 2nd November 2023, we can't expect Tata Technologies IPO date of opening
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