Breaking a two-decade hiatus, the Tata Group has entered the stock market with the debut initial public offering (IPO) for Tata Technologies. With an impressive reception on the National Stock Exchange (NSE), investors are now eager for information on listing dates, share allotment status, and more.
Share Allotment Status:
The determination of share allotment for the Tata Technologies IPO is anticipated to conclude by November 28. Investors can conveniently verify their share allotment status once the process is finalised, using either the official BSE website or the IPO registrar’s platform.
IPO Subscription Highlights:
Running from November 22 to November 24, the Tata Technologies IPO witnessed a robust subscription rate, nearly reaching 70 times. Priced between ₹475 and ₹500 per share, a minimum requirement of 30 shares per person was set.
Qualified institutional buyers and high net-worth individuals took the lead in subscriptions, securing shares at 203.41 times and 62.11 times their allotted quotas, respectively.
Listing Date and Grey Market Premium:
Tata Technologies successfully mobilized over ₹3045 crore through its IPO. It’s noteworthy that the IPO consisted solely of an offer-for-sale by promoters Tata Motors, along with investors Alpha TC Holdings and Tata Capital Growth Fund I. No direct proceeds from the IPO will benefit the company.
Presently, the Grey Market Premium (GMP) for Tata Technologies stands at ₹414, indicating a gradual increase post the IPO closure. The listing date is expected to be November 28, Tuesday.
Checking the status of your share allotment for Tata Technologies is a straightforward process. Just head to the official Bombay Stock Exchange website, click on ‘equity’ in the menu, select Tata Technologies Limited from the dropdown menu, enter your application number or PAN number, check the ‘I am not a robot’ box, and click ‘Search.’ Stay tuned for more updates on Tata Technologies’ notable IPO debut.
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