Tata Technologies Limited opened its initial public offering (IPO) for subscription on November 22, 2023. After the three day bidding process ending on November 24, 2023, the shares of the company were subscribed 69.43 times led by Qualified Institutional Buyers (QIB). The portion for QIBs was booked 203.41 times, followed by non-institutional investors’ (NII) which was subscribed 62.11 times and the retail investors’ category which was subscribed 16.5 times.
Investors who have bidded for the IPO are now waiting for the finalisation of share allotment. According to a report by Live Mint, the share allotment status of the Tata Technologies IPO is likely to be finalised on Tuesday, November 28, 2023. The company is expected to be listed on the exchanges on November 30, 2023.
Once the share allotment status of the company is finalised, investors will be able to check the same by visiting the official website of BSE, or the registrar of the IPO- Link Intime India Private LTd.
To check the share allotment status via BSE, investors will have to first go to BSE and then select ‘equity’ and ‘issue name’ (Tata Technologies Limited) from the dropdown. Now they will either have to enter the ‘application number’ or ‘PAN number’.
Meanwhile, for checking the status via Link Intime, visit its website and select ‘Tata Technologies Limited – IPO’ in the dropdown. Provide either ‘PAN number’, or ‘application number’, or ‘DP Client ID’ and then click on the search button.
Notably, the global engineering services company has raised Rs. 3,042.51 crore via public issue, at Rs. 500 per share, the upper price band. The IPO comprises only an offer-for-sale by promoter Tata Motors, and investors Alpha TC Holdings, and Tata Capital Growth Fund I.
