After the closure of Tata Technologies Ltd’s initial public offering (IPO), attention now turns towards the allotment and listing dates. The IPO subscription ended recently, and investors are eagerly awaiting details regarding allotment, with the likely date expected to follow the T+3 schedule, most likely on the next trade date after three days of bidding.
Considering the IPO concluded on a Friday and the stock market remains closed on Saturday and Sunday, followed by a holiday on Monday in India due to Gurunanak Jayanti, the tentative Tata Technologies IPO allotment date is anticipated to fall on Tuesday next week, around November 28, 2023. Subsequently, the likely listing date for Tata Technologies IPO is expected to be November 30, 2023, a Thursday next week.
Following an overwhelming subscription status for the Tata Technologies IPO, the grey market is notably bullish on the public issue. Stock market observers have noted that Tata Technologies Ltd’s shares are trading at a premium of ₹402 per equity share.
Latest Tata Technologies IPO GMP
Market experts have indicated that the current grey market premium (GMP) for Tata Technologies IPO stands at ₹402, marking a ₹5 increase from Friday’s GMP of ₹397. This surge in the grey market sentiment follows a strong investor response. Notably, prior to the IPO’s opening on November 21, 2023, the GMP was ₹340. Within four days, it has escalated to ₹402, showcasing a significant rise.
Despite fluctuating trends on Dalal Street, it’s noteworthy that Tata Technologies IPO’s grey market premium has ascended. Observers suggest that the GMP might further rise if there’s a reversal in the trend on Dalal Street after the extended weekend due to the stock market holiday on Monday for Gurunanak Jayanti.
Subscription Status and Upcoming Dates
During the three-day bidding window from November 22nd to November 24th, 2023, Tata Technologies IPO saw a subscription rate of 69.43 times overall, with the retail portion being subscribed 16.50 times. The NII (Non-Institutional Investors) category subscribed 62.11 times, while the QIB (Qualified Institutional Buyers) portion saw a whopping subscription of 203.41 times.
For those eager to check their Tata Technologies IPO allotment status, the BSE website or the official registrar’s website, Link Intime India Private Ltd, will provide access. Applicants can conveniently log in directly at the BSE link – bseindia.com/investors/appli_check.aspx or the Link Intime portal link – linkintime.co.in/mipo/ipoallotment.html.
Stay tuned for the upcoming important dates: the anticipated allotment date on November 28, 2023, and the likely listing date on November 30, 2023, for the Tata Technologies IPO.
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