Tata’s IPO took the gray market by storm, with a rush to buy shares

New Delhi. Tata Technologies’ IPO has received market regulator Sebi’s nod. This will be Tata Group’s first IPO after 19 years. Tata Group’s IPO is coming up, so the market is buzzing about it. The date of the IPO is yet to be fixed, but its premium has already come to the gray market. Tata Group’s first IPO in nearly two decades is being closely watched by investors.

Tata Technologies is a subsidiary of Tata Motors. The last IPO of the Tata Group was that of Tata Consultancy Services or TCS in July 2004. This will be Tata Group’s first public issue after 19 years. It is getting a good response and investors are picking it up. Analysts expect the company to list on the stock market in five to six months.

Also Read- Tata Motors Is 16th Largest Car Company, Shares Rocket, To Cross Rs 700

How much is GMP running?
According to IPO Watch, the Tata Technologies IPO is trading at a gray market premium or GMP of Rs 100 per share. According to people with knowledge of unlisted securities, there was bulk buying of around Rs 750. Tata Technologies filed its IPO documents with SEBI in March this year. This issue will be fully covered under Offer for Sale i.e. Offer for Sale (OFS). This means the company will not issue new shares. Existing shareholders of the company will sell their shares.

How many shares will come to the market
Shareholders will sell 9.57 crore units under the Offer for Sale. This is 23.60 percent of the paid up stock capital of the company. Tata Motors plans to sell 81,133,706 shares through the IPO. In this, Alpha TC Holdings Pte plans to sell 97.16 lakh shares (2.40%) and Tata Capital Growth Fund I plans to sell 48.58 lakh equity shares (1.20%).

When will the IPO come?
Tata Technologies’ IPO is likely to hit the primary market in the next 5-6 months. It is reported that the size of the IPO has not been disclosed yet.

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