For the first time in 20 years, the Tata Group issued its first initial public offering (IPO) for Tata Technologies, creating quite a stir in the stock market. After an incredible run on the National Stock Exchange (NSE), all eyes are on the Tate Technologies IPO allotment date.

Tata Technologies, a subsidiary of Tata Motors, is anticipated to complete the basis for the assignment of shares from the IPO by november 28. Once completed, all investors will be able to verify the status of their allotment on the official BSE or IPO registrar website.

During its run on the stock exchange from november 22 to november 24, Tata Technologies' IPO was over 70 times subscribed to. The price range for the same was established at 475-500, and the minimum number of shares per individual was set at 30. Qualified institutional buyers and high net-worth individuals purchased the majority of the company's shares, purchasing 203.41 times and 62.11 times their authorised quotas, respectively.

Tata Technologies IPO: Listing date and grey market premium
While Tata Technologies' IPO raised approximately 3045 crore, the issue only comprises an offer for sale by promoter Tata Motors and investors Alpha TC Holdings and Tata capital Growth Fund I. This indicates that no money will be given to the firm. Tata Technologies' grey market premium (GMP) is now 414, progressively growing following the issue's conclusion and indicating potential for investors. The IPO is slated to go public on november 28th, which is a Tuesday.

How to check share allotment status
• Visit official website of the bombay Stock Exchange
•  Select the option 'equity' in the menu.
•  From the dropdown box, click on Tata Technologies Limited
•  Enter your application number or PAN number
•  Check the box 'I am not a robot' and click on 'Search'.

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G GOWTHAM

27/11/2023 10:56 AM