Hem Securities - Tata Technologies IPO Note

The company is bringing the issue at a price band of ₹475-500 per share at a P/E multiple of 29x on a post-issue annualized H1FY24 PAT basis. A company with deep expertise in the automotive industry has differentiated capabilities in new-age automotive trends – electric vehicles, connected, and autonomous. The company’s strong digital capabilities bolstered by proprietary accelerators with a marquee set of clients across anchor accounts, traditional OEMs, and new energy vehicle companies along with a well-recognized brand & experienced Promoter, board of directors management team is infusing optimism in the company’s fundamentals. Hence, looking after all the above we recommend “Subscribe” to issue