Tata Technologies IPO: Check allotment date, allotment link and listing date here

28 Nov 2023 , 12:48 PM

The first IPO by the Tata Group in over 19 years witnessed robust demand, with a subscription of 69.4 times the offer size from November 22-24. Investors collectively bought 312.65 crore equity shares against the available 4.5 crore shares. The total bids amounted to Rs 1.56 lakh crore over the three-day period.

Qualified institutional buyers and high net-worth individuals showed strong interest, subscribing 203.41 times and 62.11 times their allocated quota, respectively. Retail investors, Tata Technologies’ employees, and Tata Motors’ shareholders subscribed 16.50 times, 3.7 times, and 29.2 times, respectively.

The global engineering services company successfully raised Rs 3,042.51 crore through the IPO, priced at Rs 500 per share (the upper price band). The IPO consisted solely of an offer-for-sale by promoter Tata Motors, along with investors Alpha TC Holdings and Tata Capital Growth Fund I.

The price band for the offer ranged from Rs 475 to Rs 500 per share. Investors can check the shares’ allotment status on the BSE website or the IPO registrar’s portal (Link Intime India) by providing their application number and PAN details. The credited date for equity shares to the demat accounts of successful investors is anticipated to be on or before November 29. Trading in shares is expected to commence on the BSE and NSE from November 30, though these dates are tentative and subject to change.