Tata Technologies’ ₹3,043 crore initial public offering (IPO), launched on Wednesday, has been subscribed over eight times on the second day, indicating robust demand for the Tata Group’s inaugural public offering in nearly two decades.
Specialising in engineering and technology services for automotive, aerospace, and heavy machinery industries, Tata Technologies is poised to be valued at ₹20,283 crore at the upper end of the price band, which ranges from ₹475 to ₹500.
Tech Technologies IPO Subscription status | Latest updates
As of 11:00 am, the Tata Technologies IPO subscription stands at an impressive 8.85 times. The retail investors’ portion is subscribed 7.58 times, the NII portion at an impressive 16.94 times, and the QIB portion at 4.11 times.
Additionally, the employee portion has seen a subscription of 1.61 times, while the portion reserved for shareholders is oversubscribed at 12.80 times.
The total bids received for the Tata Technologies IPO amount to 39,83,81,160 shares against the available 4,50,29,207 shares, according to data from the Bombay Stock Exchange, Live Mint reported.
Tech Technologies IPO gmp
As of today, Tata Tech IPO’s Grey Market Premium (GMP) stands at +395, signifying that Tata Technologies’ share price is currently trading at a premium of ₹395 in the grey market on Thursday, as per investorgain.com, Live Mint reported.
Tech Technologies IPO shares issue date
Tata Technologies IPO basis of allotment will be finalised on Thursday, with refund initiation scheduled for the next day.
Shares are anticipated to be credited to allottees’ demat accounts December 4. The potential listing of Tata Technologies IPO shares on both BSE and NSE is expected on Tuesday. In the event of a decision to adopt the T+3 norm, these dates may be subject to adjustment.
