The initial public offering (IPO) of Tata Technologies, the first by a Tata Group entity in 20 years, will be listed on the stock markets on Thursday i.e November 30, 2023. As per a Bombay Stock Exchange notice, the shares of Tata Technologies will be listed in the pre-opening session of BSE and NSE today.
As the Tata Technologies IPO is set to be listed today, here are five things you should know about it.
1. Tata Technologies had opened its IPO for subscriptions from November 22 to 24. On the last day, the IPO was subscribed 69.43 times on the final day of subscription.
2. While the public issue had a price band of ₹475-500 per share, Tata Motors in a regulatory filing said that Tata Technologies has finalised an offer price including the anchor investor offer price, at ₹500 per equity share of face value of ₹2 each.
3. Talking about its grey market premium (GMP), the shares of Tata Technologies were being traded at ₹425 in the grey market as of 6:03 am on Thursday.
4. The size of the IPO aggregates to ₹3,042,51 crore comprising an offer for sale of 4.63 crore equity shares by Tata Motors amounting to ₹2,313.75 crore, 97.17 lakh equity shares by Alpha TC Holdings Pte Ltd amounting to ₹485.84 crore and 48.58 lakh equity shares by Tata Capital Growth Fund I, amounting to ₹242.92 crore, subject to finalisation of basis of allotment, PTI quoted the regulatory filing.
5. As mentioned earlier, Tata Technologies is the first company from the Tata Group to float an IPO in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004.