Tata Technologies IPO day 1: Check subscription status, other details

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.

Representational Image
Representational Image

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.

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