For the first time in 20 years, the Tata Group launched its maiden initial public offering for Tata Technologies and made a significant splash in the stock market. After its amazing run on the National Stock Exchange (NSE), all eyes remain on the allotment date for Tate Technologies IPO.
It is expected that Tata Technologies, which is a subsidiary of Tata Motors, will finalise the basis of the allotment of shares from the IPO by November 28. Once done, all investors will be able to check the status of their allotment on the official website of BSE or IPO registrar.
Tata Technologies IPO was subscribed nearly 70 times during its run on the stock market from November 22 to November 24. The price band for the same was fixed at ₹475- ₹500, and the minimum shares were per person were set at 30.
Out of the total set of buyers, the qualified institutional buyers and high net-worth individuals racked up major shares of the company, buying 203.41 times and 62.11 times their allotted quota respectively.
Tata Technologies IPO: Listing date and grey market premium
While Tata Technologies ended up raising over ₹3045 crore through their IPO, the issue includes only an offer-for-sale by promoter Tata Motors, and investors Alpha TC Holdings, and Tata Capital Growth Fund I. This means that none of the money will go to the company.
The grey market premium of the firm (GMP) of Tata Technologies is currently ₹414, gradually increasing after the closure of the issue and showing promise for the investors. It is expected that the listing date for the IPO will be November 28, Tuesday.
Tata Technologies IPO: How to check share allotment status
- Visit official website of the Bombay Stock Exchange
- Select the option ‘equity’ in the menu.
- From the dropdown box, click on Tata Technologies Limited
- Enter your application number or PAN number
- Check the box ‘I am not a robot’ and click on ‘Search’.
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