IPO of Tata Technologies provides digital services
On Friday, November 24, 2023, the final day of subscriptions for Tata Technologies Rs 3,042.5 crore initial public offering (IPO), which offers digital services for engineering and product development, saw 69.43 subscriptions, mostly due to the impressive participation of institutional buyers.
In the share auction, offers for 4,50,29,207 shares were met with bids for 3,12,64,92,240 shares. On the third day of the bidding procedure, 69.43 subscriptions have been made to the public issue overall. While the category for Retail Individual Investors (RIIs) received a subscription 16.5 times, the quota for Qualified Institutional Buyers (QIBs) received 203.41 times the subscription.
62.11 times as many people subscribed to the non-institutional investor part. On November 30, the terms of the share allotment under the Tata group IPO are scheduled to be finalized. It is expected that on Tuesday, November 28, the share allotment procedure for Tata Technologies’ November 24 IPO would be completed.
Following an incredible response from investors that resulted in a significant oversubscription, people are eager to find out if they were given shares prior to the market listing. The registrant of the issue, Link Intime Private Limited, or the Bombay Stock Exchange (BSE) both offer ways to verify the status of an application.
Once the corporation finalizes the allocation basis, investors can verify their status by following these procedures. Choose ‘Equity’ and then the name of the issue (Tata Technologies). Put both your PAN card number and application number here. Select “Search” from the menu. Check out Link Intime’s webpage.
On December 5, it is anticipated that Tata Technologies’ shares would list on the BSE and NSE. Here’s a detailed tutorial on how to check the allotment status for the Tata Technologies IPO:There are two methods that participants in the Tata Technologies IPO can check the progress of their application online:
How to verify the status of Tata Technologies’ IPO allotment on the BSE. In order to verify the online status of their IPO application, bidders must go to the BSE’s official website. Go to bseindia.com/investors/appli_check.aspx to log in directly to the BSE. Choose “Equity” from the “Issue Type” menu. Choose ‘Issue Name’.
Proceed by entering your application number in the box or providing your PAN data. Then select “I’m not a robot,” then hit “Submit.” Your Tata Technologies IPO application’s status will show on the screen. How to check the Link Intime status for Tata Technologies’ IPO allotment? In order to check the status of the IPO application online, a bidder must first log in to the direct Link Intime website.
At first access the Intime website directly by logging in at linkintime.co.in/MIPO/Ipoallotment.html. Then choose the Tata Technologies IPO in step two. Next the bidder must next input PAN information. At last select the ‘Search’ menu item. Your Tata Technologies IPO application’s status will show on the screen.
Select “Company Selection” and Tata Technologies, the name of the first public offering. Input your account number/IFSC, DP/Client ID, application number, or PAN. Select “Search.” To see the status, make sure the information entered is correct. By November 29, the shares should be credited to the demat accounts of the successful applicants.
At a price of Rs 475–500 per share, the initial public offering (IPO) attracted a resounding response, with 69.43 subscriptions. In contrast to the offer of 4.5 crore shares, bids for 312.64 crore equity shares were received in the first Tata Group IPO in almost 20 years. With a subscription of 203.41 times, qualified institutional bidders took the lead, followed by non-institutional investors at 62.11 times and retail investors at 16.5 times.
Citing solid brand legacy, rising financials, and affordable values, the majority of analysts recommend a ‘Subscribe’ recommendation. It is important to remember that the grey market premium (GMP) is seen as speculative and unregulated, even with the potential insights it may provide. Investors are forewarned by financial professionals and analysts that GMP has no relationship to the core financial aspects of the business.
The ‘Others’ category had a subscription of 29.20 times, while the employees’ share was bid 3.7 times. On November 30, Tata Technologies shares are expected to go on sale. With the Grey Market Premium (GMP) at ₹414, it is projected that the listing price will be approximately Rs 914, representing a premium of roughly 83 per cent.
Tata Technologies $3,042-Crore IPO – A Profitable Investment Opportunity?
