Tata Technologies IPO: GMP increases following a robust subscription status. How to check allocation, all eyes focused on the date of listing
Following the conclusion of the subscription period for Tata Technologies Ltd.‘s initial public offering (IPO), all eyes are now focused on the dates of the IPO allocation and listing. Tata Technologies’ IPO allotment date is most likely on the trade date of the three-day bidding period that follows the T+3 timetable. Given that the stock market is closed on Saturday and Sunday, the company allotment date is most likely on Tuesday, given that the company’s IPO is completed on Friday.
Tata Technologies IPO
On Monday, though, the Indian stock market will be closed in observance of Gurunanak Jayanti. Therefore, it is most probable that the company listing date will be on November 30, 2023, which is Thursday of next week, and the company allotment date will be on Tuesday of next week, or November 28, 2023.
As a result of the robust Tata Technologies IPO subscription status, the gray market has become even more optimistic about the public offering. Stock market watchers claim that shares of Tata Technologies Ltd. are being offered at a premium of ₹402 for each equity share.
According to market watchers, the grey market premium (GMP) for Tata Technologies’ initial public offering (IPO) is currently ₹402, up ₹5 from its Friday GMP of ₹397. They said that following investors’ robust reaction, the mood in the gray market had become positive. the company’s IPO GMP was 340 before its opening date on November 21, 2023, and it is currently ₹402, as of this writing. This indicates that the company GMP increased from ₹340 to ₹402 levels in the last four days.
Notably, despite gloomy Dalal Street patterns, the premium for the company’s IPO in the gray market has increased. When Dalal Street reopens on Tuesday following an extended weekend due to the stock market holiday on Monday for Gurunanak Jayanti, market observers stated that Tata Technologies’ IPO GMP may further rise if there is a trend reversal on the street.
Subscription status for Tata Technologies’ first public offering
Tata Technologies’ IPO was subscribed 69.43 times in three days of bidding from November 22nd to November 24th, 2023, while its retail part was subscribed 16.50 times. The public issue was subscribed to 62.11 times in the NII category, and 203.41 times in the QIB category.
Date of Tata Technologies’ Initial Public Offering
As previously stated, the company allotment date is most likely on November 28th, 2023, whilst the company listing date is most likely on November 30th, 2023, i.e. Thursday next week.
How to find out the allocation status for the Tata Technologies IPO
After signing in at the official registrar of the public offer website or the BSE website, those who applied for the public issue would be able to monitor the status of their application online. The official registrar for Tata Technologies’ initial public offering (IPO) is Link Intime India Private Ltd. Users can log in directly using the BSE link for more convenience.
