Tata Technologies IPO open on November 22: GMP steady; check price, lot size
The initial public offering for Tata Technologies Ltd is set to go live tomorrow, November 22, making it the first IPO by a Tata Group company in the last 20 years. Much to the benefit of the subscribers, the Tata Technology IPO is already showing promise because of its GMP.
Meanwhile, the grey market premium (GMP) for Tata Technologies has remained steady up until the launch of the IPO tomorrow, much to the benefit of the shareholders. The bidding will remain open from November 22 to November 24.
As per the market observers, shares of Tata Technologies Ltd are available at a premium of ₹350 in grey market today. The Tata Group has fixed the price band for the Tata Technologies IPO at ₹475 to ₹500 apiece.
Tata Technology IPO GMP on November 21
The Tata Technologies IPO grey market premium remained stable at ₹350 today, November 21. However, the current premium is ₹17 lower than the weekend GMP, but is still more than 70 percent of the IPO share price. Thus, it should not be worrisome for the investors.
Despite the uncertain trends on Dalal Street, Tata Technologies GMP has held its ground, which means that subscribers could benefit from this investment. Market experts have often said that GMP is speculative and non regulated, and can have little to no impact on the IPO.
Tata Technologies IPO: Price band and lot size
The price band for the Tata Technologies issue has been fixed at ₹475- ₹500 per share. When calculated by the upper price value of the IPO, the valuation of the Tata Group company has been fixed at over ₹20,283 crore.
Subscribers can bid for a minimum of 30 shares, which means that the minimum investment must be ₹14,250, if calculated using the lower price band ( ₹475).
