Tata Technologies, a global engineering research and development (ER&D) company based in Pune, is set to disclose the allotment status of its much-anticipated initial public offering (IPO) on November 29. This marks a significant milestone as it is the first IPO from the Tata Group in 19 years.
The IPO subscription period commenced on November 22 and concluded on November 24, with a price band set at ₹475 to ₹500 per share. The response from investors was overwhelming, resulting in a robust subscription rate of 69.43 times. On the final day, the IPO received bids for an impressive 312.65 crore equity shares against the 4.5 crore shares available.
The breakdown of subscription saw the qualified institutional buyer portion leading with a staggering 203.41 times, followed by the non-institutional investors at 62.11 times. The retail segment also showcased substantial participation, being subscribed 16.50 times. Meanwhile, the employee portion witnessed a subscription of 3.7 times, and the reserved portion for shareholders was subscribed 29.19 times.
As excitement surrounds the Tata Technologies IPO, the shares are currently trading in the grey market with a premium of ₹410 per share. This Grey Market Premium (GMP) reflects the demand for IPO shares in the unofficial market before their official listing on the stock exchanges.
For investors eagerly awaiting the allotment status, here is a step-by-step guide on how to check it:
- Visit the registrar’s website and select ‘Tata Technologies.’
- Enter your PAN, application number, DP/Client ID, or Account number/IFSC.
- Input the captcha and click on submit to view your application status, including the number of shares applied for and allotted.
Alternatively, the Tata Technologies IPO allotment status can also be checked on the BSE and NSE websites:
- On the BSE website, click on ‘Equity,’ then select ‘Tata Technologies.’
- Enter your application number and PAN, then click on ‘Search’ to view the allotted shares.
Investors can also log in to the NSE portal to check their allotment status.
The much-anticipated listing date for Tata Technologies IPO is scheduled for November 30, when the shares will be officially traded on the stock exchanges.
As the IPO journey unfolds, investors eagerly await the listing date to witness how Tata Technologies performs in the dynamic stock market environment.
