Tata Technologies IPO Allotment Status Revealed: Check Your Shares Now

Tata Technologies, a subsidiary of Tata Motors, is set to finalize the basis of allotment for its IPO shares on November 28. The three-day stake sale, marking the first IPO from the Tata Group in two decades, garnered significant investor interest, with a subscription rate of 69.43 times the issue size of ₹2,200 crore. Qualified Institutional Bidders and Non-Institutional Investors showed strong enthusiasm, subscribing 203.41 times and 62.11 times their allotted portions, respectively. The retail investor portion saw a subscription of 16.5 times. Tata Technologies’ employees and Tata Motors’ shareholders subscribed 3.7 times and 29.2 times, respectively.

In the unlisted market, Tata Technologies’ shares are in high demand, with a grey market premium (GMP) of ₹414, indicating an 82% potential listing pop. Investors can check the allotment status on the BSE website or the IPO registrar portal.

The IPO, with a price band of ₹475-500, was purely an offer for sale (OFS), aiming to raise ₹3,042.51 crore. Tata Technologies, a cash-generating company with $150 million in cash at the end of FY2023, is expected to have a post-issue market cap between ₹19,269 crore and ₹20,283 crore. The company’s robust financials, including a CAGR of 36.16% in total income over FY21-23, contribute to positive market sentiments. The shares are anticipated to be credited to investors’ demat accounts by tomorrow, with trading expected to commence on November 30. Investors and market observers await the listing to gauge market response to Tata Technologies’ debut.

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