The share allotment process for Tata Technologies‘ initial public offering (IPO), which closed on November 24, is likely to be finalised on Tuesday (November 28).
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After experiencing a remarkable response from investors, leading to substantial oversubscription, individuals are keen to determine whether they have been allocated shares before the market listing.
The application status can be checked either on the Bombay Stock Exchange (BSE) or Link Intime Private Limited, the registrar of the issue. Investors can follow these steps to check their status once the company finalises the basis of allotment.
Via BSE website:
Visit the BSE website.
Select ‘Equity’ and choose the issue name (Tata Technologies).
Enter your application number and PAN card number.
Click on the “Search” button.
Via Link Intime India’s website:
Visit the Link Intime website.
Click on ‘Company Selection’ and choose the IPO name (Tata Technologies).
Enter your PAN, application number, DP/Client ID, or account number/IFSC.
Click on ‘Search.’
Ensure that the details entered are accurate for the status to appear. Successful applicants can expect the shares to be credited to their demat accounts by November 29.
Check Tata Tech IPO details
The IPO, priced between Rs 475-500 per share, received an overwhelming response, subscribed 69.43 times.
The first Tata Group IPO in nearly 2 decades garnered bids for 312.64 crore equity shares against the offer of 4.5 crore shares.
Qualified institutional bidders led with a subscription of 203.41 times, followed by non-institutional investors at 62.11 times, and retail investors at 16.5 times.
Employees’ portion was bid 3.7 times, while the ‘Others’ category saw a subscription of 29.20 times.
Tata Tech IPO GMP and listing expectations
Tata Technologies shares are anticipated to be listed on November 30. The Grey market premium (GMP) currently stands at ₹414, indicating an expected listing price of around Rs 914, which would mark a nearly 83 per cent premium.
Most analysts recommend a ‘Subscribe’ rating, citing improving financials, a strong brand legacy, and reasonable valuations.
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However, it is crucial to note that, despite the insights it may offer, the grey market premium (GMP) is regarded as non-regulated and speculative. financial experts and analysts caution investors, pointing out that GMP lacks any correlation with the fundamental financial aspects of the company.
