Pune-based Tata Technologies is set to announce the allotment status of its initial public offering (IPO) on November 29, marking the first IPO from the Tatas in 19 years.
The IPO, which was open from November 22 to November 24, saw robust demand, with the shares being subscribed 69.43 times. This indicates strong interest from investors, with bids received for 312.65 crore equity shares against 4.5 crore shares on offer.
The subscription rates varied across different investor categories, with the qualified institutional buyer portion subscribed 203.41 times, the non-institutional investors portion subscribed 62.11 times, and the retail portion subscribed 16.50 times.
The shares of Tata Technologies are currently commanding a grey market premium (GMP) of ₹410 per share. This indicates strong demand for the stock even before it is listed on the stock exchanges.
To check the IPO’s allotment status, investors can visit the registrar’s website and enter their PAN, application number, and other relevant details. Additionally, the allotment status can also be checked on the BSE and NSE websites.
The shares of Tata Technologies are expected to be listed on the stock exchanges on November 30, signaling an important milestone for the company.
By displaying strong subscription rates and commanding a significant GMP, Tata Technologies’ IPO is generating considerable interest among investors. This reflects the positive sentiment surrounding the company and its potential growth prospects.
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