Last updated: Nov 29, 2023 10:33 IST
Allotment of shares in the IPO of Tata Technologies has been completed
The share allotment of the Tata Technologies IPO was completed on Wednesday, November 29; Check the allocation status, GMP
Tata Technologies IPO: The share allotment of the Tata Technologies IPO, which was open for public subscription between November 22 and 24, was completed on Wednesday, November 29. The three-day issue of Tata Technologies was subscribed almost 70 times.
Tata Group's first IPO in two decades saw bids worth Rs 1.56 lakh crore for an offer size of just over Rs 3,000 crore. Tata Technologies will be listed on the stock exchanges on Thursday, November 30. Axis Capital estimates post-issue market capitalization between Rs 19,269 crore and Rs 20,283 crore.
Tata Technologies shares are in high demand in the unlisted market and as per reports, the gray market premium (GMP) stood at Rs 392.
It is important to note that GMPs are only an indicator of how the company's shares compare in the privately held market and are subject to rapid change.
According to experts, the listing premium could be around 75-80 percent over the issue price of Rs 500 per share.
This means the opening price for the stock could be Rs 875-900 per share, which experts attribute to its strong pedigree, healthy financial performance, solid IPO subscription numbers and growth potential in the tech services sector.
“Given the overwhelming demand from investors, along with investor-friendly pricing indicating that the Tata Group has a legacy of rewarding shareholders, a strong stock market gain of over 75 per cent can be assumed at the issue price of Rs 500 per share,” Prashanth said Tapse, Research Analyst and Senior VP According to research at Mehta Equities, there is a good chance that Tata Technologies could be a dual post-listing candidate.
He believes that the excellent listing premium is mainly justified due to the TATA pedigree that is preferred among the investment community and its unique, well-established global business model that is fundamentally strong and generates healthy margins in the sector it serves.
Given the growth potential in outsourcing, the business model would be in high demand in the future, he believes.
The gray market also indicates that the listing premium can be approximately 80-82 percent above the issue price.
How to Check Tata Technologies IPO Allotment Status Via BSE website
Step 1: Visit the official website of the BSE by logging into the direct BSE link bseindia.com/investors/appli_check.aspx
Step 2: Select 'Shares' under 'Issue type'
Step 3: Select 'Issue Name' – this can be your application number or your PAN details
Step 4: Click 'I'm not a robot' and then submit.
You can see the status of your Tata Technologies IPO application status on the screen.
Alternatively, you can also check Tata Technologies' IPO allotment status through registrar Kfin Technologies' website by logging into kprism.kfintech.com/ipostatus.