Tata Technologies IPO subscribed 69 times on final day
Tata Technologies IPO opens for subscription on November 22nd: The board of Tata Technologies has set a price band of Rs 475-500 per share for the IPO. The subscription window for the IPO of Tata Technologies, a subsidiary of Tata Motors, was available from 10 am to 5 pm for three trading days, till November 24.
Tata Technologies IPO, Tata Technologies IPO price band: The much-anticipated initial public offer (IPO) of Tata Technologies, the first Tata group issue in nearly two decades, opened for subscription on November 22. The board of Tata Technologies has set a price band of Rs 475-500 per share for the IPO. The subscription window for the IPO of Tata Technologies, a subsidiary of Tata Motors, was available from 10 am to 5 pm for three trading days, till November 24.
Tata Technologies subscription status
On Friday (Day 3), Tata Technologies' share sale received bids for 3,12,64,92,240 shares against 4,50,29,207 shares on offer. Overall, the public issue has been subscribed 69.43 times on the third of the bidding process.
Category | Subscription (No. of times the equity reserved) |
Qualified institutional buyers | 203.41 |
Non-institutional investors | 62.11 |
Retail investors | 16.50 |
Overall | 69.43 |
Source: Exchange data |
Tata Technologies IPO reviews: Should you apply for the Tata Technologies IPO? Here's what market wizard Anil Singhvi suggests
Zee Business Managing Editor Anil Singhvi recommends applying for the Tata Technologies IPO for big listing gains and long-term. He listed out the following positives and negatives:
Positives:
- Strong and experienced promoters
- Deep relationship with clients across Globe
- Strong digital and technology skills
- Debt free company with strong cash flow
- Impressive financial track record
- Strong growth prospects
- Very attractive valuations
- Stock may double very soon
Negatives:
- One third business from Tata group
- Few group companies operate in similar kind of business
Here are some of the key things to know about the Tata Technologies
Tata Technologies IPO allotment date
The basis of the allotment of shares, under the Tata group IPO, is set to be finalised on November 28.
Tata Technologies IPO listing date
Tata Technologies shares are likely to be listed on BSE and NSE tentatively on December 1.
Tata Technologies IPO lot size and issue price
Potential investors will be able to bid for Tata Technologies shares under the IPO at Rs 475-500 apiece in multiples of 30 equity shares, translating to Rs 14,250- 15,000 per lot.
Read more on Tata Technologies IPO, first Tata group IPO in 19 years
Tata Technologies IPO: Book-running lead managers, registrar
JM Financial Ltd, Citigroup Global Markets India and BofA Securities India are the book running lead managers, and Link Intime India Pvt Ltd is the registrar for the IPO.
What does Tata Technologies do?
Tata Technologies offers product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their Tier 1 suppliers.
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