Tata Technologies IPO: Check GMP and subscription.
Unlisted shares of Tata Technologies are indicating robust itemizing features and are buying and selling Rs 414 greater within the gray market, which is an 82.8 per cent itemizing acquire or GMP from the general public problem
Tata Technologies IPO: Even as Tata Technologies has finalised the value at Rs 500 per fairness share for its preliminary public providing (IPO), the corporate’s unlisted shares are buying and selling at a premium or GMP of round 82.8 per cent within the gray market. The firm’s itemizing is more likely to happen on December 5 on the BSE and NSE.
‘Grey market premium’ signifies traders’ readiness to pay greater than the difficulty worth. It additionally signifies how a lot features traders are going to make on the itemizing day. The GMP relies on market sentiments and retains altering.
Tata Technologies IPO GMP Today
According to market observers, unlisted shares of Tata Technologies are indicating robust itemizing features and are buying and selling Rs 414 greater within the gray market as in contrast with its problem worth. The Rs 408 gray market premium or GMP means the gray market is anticipating an 82.8 per cent itemizing acquire from the general public problem.
Tata Technologies IPO Subscription
Tata Technologies IPO was opened for public subscription between November 22 and November 24, and acquired a whopping 69.43 instances subscription. The worth vary for the provide was fastened at Rs 475-500 a share, which has now been finalised at Rs 500.
The Rs 3,042.5-crore preliminary public providing acquired bids for 3,12,64,91,040 shares in opposition to 4,50,29,207 shares on provide. The class for certified institutional consumers (QIBs) was subscribed a mammoth 203.41 instances, whereas the half meant for non-institutional traders attracted 62.11 instances subscription. The quota for retail particular person traders (RIIs) was subscribed 16.50 instances.
Tata Technologies IPO Details
Tata Technologies is the primary firm from the Tata Group to drift an IPO in almost 20 years. Tata Consultancy Services was the final IPO from the group in 2004.
At Rs 500 problem worth, the dimensions of the IPO aggregates to Rs 3,042,51 crore comprising a proposal on the market of 4.63 crore fairness shares by Tata Motors amounting to Rs 2,313.75 crore, 97.17 lakh fairness shares by Alpha TC Holdings Pte Ltd amounting to Rs 485.84 crore and 48.58 lakh fairness shares by Tata Capital Growth Fund I, amounting to Rs 242.92 crore, topic to finalisation of foundation of allotment.
