Tata Tech IPO: How to check allotment status, listing date, GMP & more

Tata Tech IPO: The shares of Tata Technologies will likely be listed on the bourses (BSE & NSE) on November 30

Pune-based Tata Technologies, a global engineering research and development (ER&D) company, announced the allotment status of its initial public offering (IPO) on Wednesday, November 29. This is the first company from the Tata Group to float an IPO in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004.
 

The Tata Technologies IPO opened on November 22 and closed on November 24. The price band for the IPO was Rs 475 to Rs 500 per share.

How to check the IPO's allotment status

The application status can be checked either on the Bombay Stock Exchange (BSE) or Link Intime Private Limited, the registrar of the issue.

Investors can follow these steps to check their status once the company finalises the basis of allotment.

* Visit the Link Intime website.

* Click on 'Select Company' and then select 'Tata Technologies'.

* Enter your PAN, application number, DP / Client ID or Account number / IFSC.

* Now, enter the captcha.

* Click on submit.

You will be able to see your application status. It will show the number of shares that you have applied for as well as the number of shares that have been allotted to you.

To check the allotment status on BSE website:

* Go to the BSE website.

* On the website, click on 'Equity' and then select 'Tata Technologies' from the dropdown menu.

* Now, enter your application number and PAN.

* Click on 'Search'.

You will be able to see the number of shares allotted to you.

Tata Tech IPO: Robust subscription

On the final day, the Tata Technologies IPO was subscribed 69.43 times, receiving bids for 3.12 billion equity shares against 450 million shares on offer.

While the qualified institutional buyer (QIB) portion was subscribed 203.41 times, the non-institutional investors portion was subscribed 62.11 times. The retail portion also witnessed good participation and was subscribed 16.50 times. The employee portion was subscribed 3.7 times. The portion reserved for shareholders was subscribed 29.19 times.

Grey market premium

The shares of Tata Technologies are currently commanding a grey market premium (GMP) of Rs 375 per share. GMP is the premium at which IPO shares are traded in an unofficial market before being listed on the stock exchanges.

Tata Technologies IPO listing date

The shares of Tata Technologies will likely be listed on the bourses (BSE & NSE) on November 30.