Last Updated: November 29, 2023, 10:33 IST
Tata Technologies IPO share allotment finalised
The share allotment of Tata Technologies IPO was finalised on Wednesday, November 29; Check allotment standing, GMP
Tata Technologies IPO: The share allotment of Tata Technologies IPO, which was open for public subscription between November 22 and November 24, was finalised on Wednesday, November 29. The three-day challenge of Tata Technologies was subscribed almost 70 occasions.
The first Tata Group IPO in twenty years obtained bids value Rs 1.56 lakh crore for a proposal dimension of simply over Rs 3,000 crore. Tata Technologies can be listed on the bourses on Thursday, November 30. Axis Capital pegs the submit-challenge market cap between Rs 19,269 crore and Rs 20,283 crore.
Shares of Tata Technologies within the unlisted market are in heavy demand and the gray market premium (GMP) stood at Rs 392, in keeping with studies.
It is vital to notice that GMPs are simply an indicator of how the corporate’s shares are stacked up within the unlisted market and are topic to alter quickly.
According to consultants, the itemizing premium could also be round 75-80 per cent over the difficulty worth of Rs 500 per share.
This means the opening worth for the inventory could also be Rs 875-900 per share, which consultants attributed to the robust parentage, wholesome monetary efficiency, strong IPO subscription figures, and progress potential within the engineering providers business going forward.
“Considering overwhelming investors demand along with investors friendly pricing indicating Tata Group legacy to reward shareholders, a strong listing gain over and above 75 per cent can be assumed against the issue price of Rs 500 per share,” Prashanth Tapse, analysis analyst, senior VP analysis at Mehta Equities mentioned, including there’s a excessive chance as per road assumption that Tata Technologies could be a doubler candidate submit itemizing.
He believes the very good itemizing premium is justified primarily on the again of TATA parentage tag which enjoys first choice amongst traders group and its distinctive nicely established international enterprise mannequin which is essentially robust producing wholesome margins within the sector it serves.
Given the expansion potential in outsourcing, the enterprise mannequin could be in nice demand going ahead, he feels.
Also, the gray market is indicating the itemizing premium may be round 80-82 per cent over the difficulty worth.
How to test Tata Technologies IPO allotment standing Via BSE web site
Step 1: Visit the official web site of the BSE by Loggin into the direct BSE hyperlink bseindia.com/traders/appli_check.aspx
Step 2: Select ‘Equity’ beneath ‘Issue Type’
Step 3: Select ‘Issue Name’ –which may be both your utility quantity or your PAN particulars
Step 4: Click on ‘I’m not a robotic’ after which submit.
You can see the standing of your Tata Technologies IPO utility standing on the display screen.
Alternatively, you can even test Tata Technologies IPO allotment standing by way of registrar Kfin Technologies’ web site by logging onto kprism.kfintech.com/ipostatus.
