Tata Tech IPO was oversubscribed 69.43 times as investors poured in Rs 1.57 lakh crore by making 73.58 lakh applications. The issue closed for subscription on Friday. In terms of the number of applications, Tata Tech has broken LIC s record of 73.38 lakh applications in May 2022. Reliance Power is at the third place as it had got 48 lakh IPO applications in January 2008.
The initial public offer (IPO) is seeing robust response from investors. Today is the last day for investors to apply to the issue. Here s a look at what brokerages recommend.
We are first and foremost a professional services company and that s where we are primarily focused on investing & growing. In terms of industry focus, we think there is more than enough opportunity in automotive, aerospace, transport & construction heavy machinery. In automotive, farm, highway construction, and mining equipment (opportunity) is there."
“Now that the US markets have stabilized as have the debt markets and inflation seems to be coming under control, one could expect better prospects for all the technology companies – Tata Technologies, Tata Elxsi, TCS. Companies like Trent and Titan have been outliers. Other companies per se have done badly in the same group, but they continue to thrive pretty well.”
Tata Tech IPO: Analysts advise investors to subscribe to the issue over fair pricing, strong brand presence and strong financials. "Considering the growth opportunities and strong fundamentals of Tata Tech, we recommend a Subscribe rating for this IPO," said Ventura.