Pune-based Tata Technologies, a global engineering research and development (ER&D) company, is set to announce the status of share allotment for its initial public offering (IPO) on November 29.
This IPO is the first from the house of Tatas in 19 years. The Tata Technologies IPO was open from November 22 to November 24 with a price band of ₹475 to ₹500 per share.
The IPO proved to be robustly popular with shares being subscribed a staggering 69.43 times. The qualified institutional buyer portion saw a subscription of 203.41 times, the non-institutional investors portion was subscribed 62.11 times, the retail portion was subscribed 16.50 times, and the employee portion was subscribed 3.7 times. The portion reserved for shareholders was subscribed 29.19 times.
According to the grey market, Tata Technologies shares are currently commanding a premium of ₹410 per share. The company’s shares are expected to be listed on the stock exchanges on November 30.
For those interested in checking the IPO’s allotment status, they can do so on the registrar’s website or through the BSE and NSE websites. Investors can enter their details such as PAN, application number, and ID to discover their application status.
The excitement around Tata Technologies IPO is clearly visible with the extensive subscription and high grey market premium. As the shares are set to be listed soon, the event is anticipated many.