...
...
Next Story

Tata Technologies IPO Subscription latest status: Offer subscribed over 8 times

Tata Technologies IPO Subscription status: Total bids for 39,83,81,160 shares received against available 4,50,29,207 shares, with a Grey Market Premium of +395.

Published on: Nov 23, 2023 11:52 AM IST
By HT News Desk
Prefer HTon Google
Advertisement

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.

A Tata sign is seen. (REUTERS)
A Tata sign is seen. (REUTERS)

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

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.

 
ABOUT THE AUTHOR
HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

tataipo watch
Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator
Home/Business/Tata Technologies IPO Subscription latest status: Offer subscribed over 8 times
SHARE THIS ARTICLE ON