In today’s briefing:
- Tata Technologies IPO: Trading Debut
- Tata Technologies IPO Trading – Will Be a Good Listing Owing to over Enthusiasm
- Fedbank Financial IPO Trading – Subscription Rates Hint at a Snoozy Debut
- India Industrials | Quarterly Update – ABB India, Siemens, Polycab and Havells
- Tata Consultancy Services Buyback: Tender Offer Period Opens on 1st Dec
Tata Technologies IPO: Trading Debut
- Tata Technologies (TATATECH IN) priced its IPO at Rs500 per share to raise gross proceeds of US$365 million. The shares will start trading tomorrow.
- We previously discussed the IPO in Tata Technologies IPO: The Investment Case and Tata Technologies IPO: Valuation Insights.
- The market sentiment on the sector has improved. In 2023, Indian IPOs with a >US$100 million raise had an average first-day gain of 28.3%. The IPO price is attractive.
Tata Technologies IPO Trading – Will Be a Good Listing Owing to over Enthusiasm
- Tata Technologies (TATATECH IN) (TT) raised around US$370m in its India IPO.
- Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers.
- In our previous note, we looked at the company’s past performance and valuation. In this note, we talk about the demand and trading dynamics.
Fedbank Financial IPO Trading – Subscription Rates Hint at a Snoozy Debut
- Fedbank Financial Services (0702066D IN) raised around US$130m in its India IPO.
- Fedbank Financial Services (Fedbank) is a retail-focused non-banking finance company (NBFC) promoted by The Federal Bank Limited.
- In our previous note, we looked at the company’s past performance and valuation. In this note, we talk about the demand and trading dynamics.
India Industrials | Quarterly Update – ABB India, Siemens, Polycab and Havells
- In this Insight, we review the recent performance of ABB India Ltd (ABB IN) , Siemens Ltd (SIEM IN) , Polycab India (POLYCAB IN) and Havells India (HAVL IN).
- Most companies have performed in line with our expectations, we expect sectorial dynamics to remain in play.
- We continue to favour ABB over Siemens (ABB/SIEM), Polycab over Havells (POLYCAB/HAVL).
Tata Consultancy Services Buyback: Tender Offer Period Opens on 1st Dec
- Tata Consultancy Svcs (TCS IN) launched an INR170bn (US$2bn) Buyback in mid-November 2023 which is one of the largest Buybacks in India in recent years.
- The company has published the Letter of Offer confirming the final details and the expected timeline for this Buyback.
- Below is a closer look at these details and their implications for shareholders.
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