TATA TECH IPO PREVIEW
Top startup and tech stories this week
ETtech Unwrapped is packed with the most important stories that we covered this week. Here’s a quick recap.
IT stocks surge up to 6% led by midcap counter Mphasis as TCS Q1 cheers D-Street
Indian IT stocks surged due to TCS's robust June quarter earnings. The Nifty IT index rose 3.7%. Infosys and TCS led gains with Rs 62,613 crore revenue and Rs 12,040 crore net profit. MphasiS had notable intraday gains, while HCL Technologies showed growth. TCS forecasts better FY25 performance.
TCS Q1 Preview: PAT may grow 8% YoY to Rs 11,984 crore, revenue uptick seen at 4.8%
TCS expects an 8% YoY net profit increase to Rs 11,984 crore and a 4.8% revenue growth to Rs 62,234 crore. Estimates from Kotak, Prabhudas Lilladher, and ICICI Securities highlight BFSI and retail gains. EBITDA is at Rs 16,572 crore. Q1 results on July 11. EBIT margins to decrease, impacted by hiring, wage revisions, deal wins, and large deals ramp-up.
Hyundai IPO: A chaebol looks at India to break out of a Korean trap
Just as Indian stock markets are trading near record highs, Hyundai expects the listing of the equity shares in India "will enhance our visibility and brand image", and "provide liquidity and a public market" for the shares.
Ixigo opens at 48% premium over issue price, hits upper circuit: Key things to know
Ixigo stock hit upper circuit on the day of its debut at 11.41 am. The IPO of Le Travenues Technologies, which operates the travel platform Ixigo, closed on June 12 and was oversubscribed 98 times on its last day. The share debuted at Rs 138.1 against an issue price of Rs 93 on NSE, up Rs 45.1 or 48.5% and Rs 135 on BSE, a premium of 45.16%.
Ixigo IPO opens for subscription. Should you bid?
Ixigo IPO by Le Travenues Technology will open for subscription with a price band of Rs 88-93 per share. Investors can bid for 161 shares in one lot. The IPO closes on June 12.
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Ixigo IPO opens tomorrow. What GMP signals ahead of subscription?
Before its initial public offering (IPO) set to open for subscription on Monday, Le Travenues Technology, the company behind the travel platform Ixigo, is seeing its shares trade at a premium of Rs 25 in the unlisted market.
Ixigo raises Rs 333 crore from anchor investors ahead of IPO
Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, Government of Singapore are some of the marquee investors who subscribed to Ixigo's anchor book. The company had already announced pre-IPO secondary placements of around Rs 176.2 crore at the top end of price band.
Bluestone's unicorn round; Sorin’s Rs 1,350-crore fund
Happy Wednesday! Omnichannel jewellery startup Bluestone is nearing unicorn status with a potential $100-million pre-IPO investment. More on this in today’s ETtech Morning Dispatch.
Quick commerce 2.0, and other top tech & startup stories this week
Quick commerce, the buzziest sector in the consumer internet industry, is undergoing a significant transformation. We, at ETtech, have been tracking the sector super closely and bringing the biggest and most impactful stories to you, first.
Digit IPO: tempering tech valuations & other top startup stories this week
This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.
Tata Motors looks to spin off its NBFC arms, merge with IPO-bound Tata Capital
Group holding company Tata Sons will offer shares of Tata Capital to Tata Motors. This will give India's third-largest carmaker by volume a minority stake in Tata Capital.
Tata Motors Q4 Results Preview: PAT likely to jump 33% YoY to Rs 7,640 crore on higher volume
Tata Motors Q4 Results Preview: The projected profit after tax (PAT) falls within the bracket of Rs 7,438 crore to Rs 8,350 crore, while the anticipated revenue is forecasted to range from Rs 1,05,932.40 crore to Rs 1,21,606.80 crore, as indicated by the estimates.
TCS Q4 results on Friday: Recap of how IT bellwether fared in FY24; key things D-Street needs to watch out for
TCS Q4 Results Preview: TCS to release earnings for March with slight improvement expected. Analysts monitor core earnings, profitability, deal wins, and management outlook for FY25 closely after challenging quarters.
IT Q4 Preview: Tech giants to see modest quarter; all eyes on FY25 guidance
IT companies anticipate modest growth in the upcoming quarter with a keen eye on FY25 guidance. TCS will lead the earnings season, while midcap companies are expected to outperform largecaps. Strong deal flows and margin expansion anticipated.
Tata Technologies shares jump over 6% on tie-up with BMW Group
Tata Technologies shares rose over 6% post joint venture with BMW to develop automotive software hubs. Warren Harris, CEO and MD, highlights commitment to digital engineering solutions for BMW, propelling digital transformation.
Tata... Hello! Group back on D-Street, plans to launch several IPOs in 2-3 years
Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries are among the list of companies being primed to tap the capital markets. The group has been aggressively looking to scale up in new-age sectors such as digital, retail, semiconductors and electric vehicle batteries, among others.
Rs 1.5 lakh crore bid! Retail investors bet on IPOs like never before in 2023
In value terms, retail investors applied for shares worth a staggering Rs 1.49 lakh crore, which was a whopping 203% higher than the total IPO mobilisation in 2022, according to Prime Database.
Tata Tech among 6 IPOs where mutual funds invested in November
Aditya Birla Sun Life MF, Axis MF, DSP MF, Franklin Templeton MF, ICICI Prudential MF, Kotak MF, Nippon India MF, Motilal Oswal MF, Mirae, Sundaram, JM and SBIMF shopped for Tata Tech, a Nuvama report said. They added shares worth Rs 1,120 crore.
Touch of Tatas! With 140% gain, Tata Tech IPO records best listing in last 2 years
Beating all estimates in the grey market, where shares were said to be trading at a premium of about 80%, Tata Tech shares listed at a 140% premium and then went on to rally another 17% to take the total gain at day's high price to as much as 180%. In recent years, the best IPO in terms of listing gain was that of Sigachi Industries which debuted on November 15, 2021, at 253% premium. The stock debuted at Rs 575 per share against an issue price of Rs 163.
Tata Technologies listing: What does GMP signal ahead of debut on Thursday?
Tata Tech IPO: Based on the current GMP trends and the likely demand for the shares even post-listing, it won't be a surprise if the Tata Tech stock doubles over the IPO price on the first day itself
20-year wait ends with Tata Technologies listing on Thursday. Here's what to expect
After smashing records through the IPO, Tata Technologies will likely get listed on the exchanges on Thursday. Here's what investors can expect from the Tata Group firm's debut, which is a first in nearly 20 years after TCS.
Tata Tech IPO subscribed nearly 70 times at close; QIB part booked over 200 times
The IPO of Tata Technologies is generating a strong response from investors. Moving away from the initial noise, much of the optimism around the company is due to cheap valuations when compared with listed peers such as KPIT, L&T Tech and Tata Elxsi.
Tata Technologies IPO: Stock fetching nearly 80% premium in unlisted market. Can it double on listing day?
Tata Tech IPO, which closes on November 24, is the first from Tata Group since TCS, which is also one of the reasons why the issue is generating considerable buzz. Analysts are overwhelmingly positive on the issue and, in fact, prefer the IPO over four other issues currently open.
Tata Tech IPO selling like hot cakes, subscribed 6.54 times on Day 1
At 10:42 am, the Rs 3,042-crore Tata Tech IPO was subscribed 1.21 times. The quota reserved for qualified institutional buyers was subscribed about 2 times, non-institutional investors 1.25 times. The portion reserved for shareholders of parent entity Tata Motors 1.26 times while the retail quota was subscribed 86%.
Tata Technologies IPO opens for subscription. Should you apply?
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.
Tata Tech IPO opens for subscription under pre-apply mode. Check GMP, other details
Tata Technologies is a leading global engineering services company offering product development and digital solutions to global original equipment manufacturers (OEMs). The company services include concept design, tear-down and benchmarking, vehicle architecture, body and chassis engineering, electrical and electronics systems, and diagnostics. It has a workforce of over 11,000 employees spread across 18 global delivery centres.
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