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Business News/ Markets / Tata Technologies IPO: Listing on stock exchanges scheduled for November 30

Tata Technologies IPO: Listing on stock exchanges scheduled for November 30

  • Tata Technologies is scheduled to list on the stock exchanges on November 30.

Tata Technologies IPO is the second public issue from the Tata Group in the last 20 years.

Tata Technologies is scheduled to list on the stock exchanges on November 30, following its initial public offering (IPO) that was subscribed 69.43 times on the final day of bidding.

The offer's retail investors' portion was subscribed 16.50 times, the NII portion was subscribed 62.11 times, and the Qualified Institutional Buyers (QIB) portion was booked 203.41 times. The employee portion was subscribed 3.70 times, Portion reserved for the shareholder was booked 29.19 times.

Also Read: Tata Technologies IPO allotment expected soon: GMP, subscription details

Tata IPO received bids for 3,12,64,91,340 shares against 4,50,29,207 shares on offer, according to data from the BSE.

The offer, which was the most-awaited IPO of the year, opened for subscription on Wednesday, November 22, and closed on Friday, November 24.

The subscription status on Day 2 was 14.85 times, and on Day 1, it stood at 6.55 times.

Also Read: Tata Tech IPO allotment status: Here's how to check status and latest GMP

Tata Tech IPO GMP today or grey market premium, is +392. This indicates Tata Technologies share price now is trading at a premium of 392 in the grey market on Tuesday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Tata Tech share price is indicated at 892 apiece, which is 78.4% higher than the IPO price of 500.

Based on last 43 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is 240, while the highest GMP is 414, according to analysts of investorgain.com.

Also Read: Here's why Tata's first issue in 20 years has gripped the pulse on D-Street

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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