New Delhi: Tata Investment Corporation Ltd experienced a remarkable 19% surge in its stock on November 17, fueled by the anticipated value unlock through the upcoming Tata Technologies IPO, set to open for subscription on November 22. As a key promoter in Tata Motors, Tata Investment holds a strategic position in Tata Tech, contributing to the excitement in the market.
Tata Investment, a non-banking financial company, boasts a diverse portfolio with stakes in prominent Tata group firms, including Tata Chemicals, Tata Consumer Products Ltd, Trent, Tata Elxsi, Tata Steel, and TCS. The stock’s impressive 80% surge in 2023, marking its best annual performance since 2009, has captured investor attention, with a staggering rally of over 350% in the last five years.
The recent spike in Tata Investment’s share price follows the announcement of senior management appointments, such as the addition of Vaibhav Goyal as General Manager. Goyal’s extensive experience and expertise further enhance the company’s outlook.
Adding to the excitement is the highly anticipated Tata Technologies IPO, the first from the Tata group since 2004. With a subscription period from November 22 to November 24 and a price band of Rs 475-500 per share, the IPO is generating substantial buzz. The valuation at the upper price band of Rs 500 positions the company at Rs 20,283 crore.
Investors are eyeing the IPO’s offer for sale, which includes shares from Tata Motors Ltd, Alpha TC Holdings, and Tata Capital Growth Fund I. The surge in Tata Investment’s stock reflects the market’s optimism and anticipation of significant value creation through these strategic moves.