November 21, 2023
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Tata Technologies IPO Guidance: Chanakya places before you view and Guidance by different experts.
👉View on Tata Technologies (Tata Tech) IPO by Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities Ltd
“We believe the Tata Tech IPO offer gives investors an opportunity to invest in a leading global engineering services company with deep expertise in the automation industry focused in Engineering Research & Development (“ER&D”). We like the company’s strong established brand and diverse product portfolio across different product categories from traditional OEM’s to new age energy vehicles like EV. We think outsourcing business model would be in great demand going forward in engineering services and digital transformation services to global manufacturing clients helping clients to conceive, design, develop and deliver better products. By looking at the financials historically, Tata Tech has delivered a strong revenue and margin growth in the last 3 years and expect the growth would remain similar going forward.
On Valuation per se at upper price band of Rs 500/- and based on annualized earnings and fully diluted post-IPO paid-up capital, the issue is asking for a Market Cap of Rs 20,283 crore with P/E of 29x on consolidated basis, which seems the issue is reasonably priced when compared industry peers which are trading 60x. Despite 100% OFS offer investors are keen to own the share based on group legacy. Considering all the parameters, we strongly advocate a good long term prospects for the company. Hence, we recommend investors to “SUBSCRIBE” to the Tata Tech IPO offer with long-term perspective as well as strong listing gain due to investor friendly pricing given good room for upside.
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