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

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

Nov 23, 2023 11:52 AM IST

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.

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.

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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.

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