Tata Investment Corporation's shares soared by over 15% on Monday, to reach a new 52-week high. This is ahead of Tata Technologies' IPO opening for subscription on the 22nd of November.
On November 17, Tata Investment witnessed a remarkable 20% surge, contributing to a 40% climb within a week and a whopping 112% rise year-to-date (YTD).
Analysts foresee a potential for value unlocking from the Tata Technologies IPO. The IPO, scheduled for a three-day bidding process from November 22 to November 24, has fixed the price band at Rs 475-500 per equity share for its Rs 3,042 crore initial public offering (IPO).
This IPO marks a significant milestone as the first offering from the Tata Group in almost two decades. Tata Technologies, a company focused on Engineering Research & Development (ER&D) with a primary focus on the automotive industry, aims to leverage this IPO for its growth prospects.
Tata Investment Corporation, a non-banking financial company (NBFC), holds stakes in various prominent Tata Group entities, such as Tata Consultancy Services (TCS), Tata Steel, Tata Consumer Products, Tata Chemicals, Tata Elxsi, and Trent.
In its recent financial report, Tata Investment Corporation disclosed a net profit of ₹113.24 crore in the second quarter of FY24, marking a 31.38% rise from the corresponding period in the previous fiscal year.