The initial public offering (IPO) of Tata Technologies, the first by a Tata Group company in 20 years, opened for subscription on Wednesday, with November 24 being the deadline to subscribe.
How was the response to Tata Technologies IPO?
The much-anticipated IPO received a ‘fantastic’ response within the first hour of bidding, reported Livemint. Within the first 30 minutes of opening, the non-institutional investors (NII) portion was subscribed to 80%, while the retail portion saw 48% booking. Later on, the qualified institutional buyers (QIB) section too picked up, and was fully booked.
Tata Technologies IPO: Subscription status
At 10:48 IST the ₹3042.51 crore public offer stood subscribed 1.29 times, noted Livemint. The retain investors segment got subscribed 1.02 times, NII 1.45 times, QIB 1.98 times, and employee portion, 14%.
Tata Technologies IPO: Price band
The three-day issue has a price band of ₹475-500 per share with a lot size of 30 equity shares, and after that, in multiples thereof.
Tata Technologies IPO: Lot size
Applicants will have to apply in lots, with 30 company shares in each lot of the public issue. A retail investor, therefore, must spend at least ₹15,000 ( ₹500*30) to apply for this offer.
Tata Technologies IPO: Important dates
After opening on November 22, the IPO is available till November 24. The IPO allotment date is likely to be November 27, and listing date, November 29.
