The upcoming share allotment finalization of Tata Technologies' Initial Public Offering (IPO) is drawing high investor interest, with the grey market indicating a strong premium. The IPO, which has been significantly oversubscribed, is set to finalize share allocations with investors eagerly awaiting updates on their application status.
The IPO saw remarkable demand from November 22nd to 24th, achieving an oversubscription rate of 69.43 times. Institutional buyers, including Qualified Institutional Buyers (QIBs), showed considerable interest, subscribing over 203 times the shares available to them. Retail individual investors and Tata Motors (NYSE:TTM) shareholders also demonstrated strong participation rates of over sixteen and nearly thirty times their respective quotas.
As per the latest insights, the Grey Market Premium (GMP) for Tata Technologies' shares stands at Rs 414, suggesting an estimated listing price of Rs 914 per share. This indicates a potential profit margin of approximately 82.80% for early investors.
The critical dates for the IPO process are as follows:
- Share allocation is scheduled for Tuesday, November 28th.
- Refunds initiation will commence on December 1st.
- Crediting of shares into demat accounts is expected by December 4th.
- The listing on stock exchanges is slated for December 5th.
Investors can check their allotment status through various methods including the registrar's website using PAN or Aadhaar details, or via BSE and NSE platforms with application numbers or PAN cards. Additionally, demat account holders may consult brokers or log in to trading accounts for updates, and bank account holders should watch for debit entries or SMS notifications regarding their IPO applications.
The IPO has raised over ₹3045 crore through an offer-for-sale by principal stakeholders such as Tata Motors, without infusing fresh capital into Tata Technologies itself. The robust subscription rates from institutional buyers and high net-worth individuals on NSE at rates of 203.41x and 62.11x respectively further underscore the confidence investors have in this offering.
As the market awaits the share allotment finalization today, interested parties are encouraged to stay tuned to financial news sources for real-time updates on subscription statuses and grey market premiums to catch all pertinent developments as they unfold.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.