Abhitesh
Tata Technologies’ ₹3,043 crore initial public offering (IPO), which started on Wednesday, has been sold more than eight times on the second day. This shows that there is strong demand for the Tata Group’s first public offering in almost twenty years.
As the price goes from ₹475 to ₹500, Tata Technologies could be worth as much as ₹20,283 crore. Its main business is providing engineering and technology services to the heavy machinery, aerospace, and automotive industries.
Tech Technologies IPO Subscription status | Latest updates
As of 11:00 a.m., 8.85 times as many people had subscribed to the Tata Technologies IPO as yesterday. 7.58 times as many private investors have bought in as there are NII investors (16.94 times), and 4.11 times as many QIB investors have bought in.
Also, the portion set aside for employees has been subscribed to 1.61 times, while the portion saved for shareholders has been subscribed to 12.80 times.
The Bombay Stock Exchange told Live Mint that 39,83,81,160 shares were bid on for the Tata Technologies initial public offering (IPO), while only 4,50,29,207 shares were actually available.
Tech Technologies IPO
Today, the Grey Market Premium (GMP) for Tata Tech IPO is +395. This means that the share price of Tata Technologies is selling at a premium of ₹395 in the grey market, according to investorgain.com, which was reported by Live Mint.
Tech Technologies IPO shares issue date
The Tata Technologies IPO base of allotment will be finalized on Thursday, and refunds will start the following day.
Shares should be added to the demat accounts of those who were allocated them on December 4. Tata Technologies IPO shares might be listed on both the BSE and the NSE on Tuesday. If it turns out that the T+3 standard will be used, these times might need to be changed.
