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Most Likely Today for Tata Investment IPO Allotment: How to Verify Status, Learn GMP, and Find Listing Date

Today, November 28, is probably the day when the share allocation procedure for Tata Technologies’ November 24 closing IPO is concluded. Both the BSE website and the website of the issue’s registrar, Link Intime India, allow investors to see the progress of their allocation.

Investors learn on the allotment day how many shares they have been allocated in relation to the bids placed. They may go to the registrar’s website or use the BSE to check the status of their allocation. Here’s how to use BSE to check the status.theindiaprint.com following his death the 38 wives and 89 children of the mizoram man reside in a ho

The Rs 3,042.51 crore initial public offering (IPO) was available for subscription from November 22 to 24, with prices per share ranging from Rs 475 to Rs 500.

November 22–24 saw 69.43 subscriptions to the Tata Group’s first initial public offering (IPO) in more than 19 years. 312.64 crore equity shares were bid on, compared to the 4.5 crore shares that were offered. With 203.41 bookings, the part designated for qualified institutional bidders (QIBs) was the largest.

During the three-day bidding procedure, the retail investors’ quota was subscribed 16.5 times, while the non-institutional investors’ (NII) category was subscribed 62.11 times. In addition, the Others category had 29.20 subscriptions and the staff component had 3.7 bids.

On Thursday, November 30, Tata Technology shares are probably going to be launched on the exchanges.

How to look up the status of your allocation

Visit the BSE website first.

2) Choose “Equity” and then the problem name from the selection menu.

3) Type in the PAN card number and application number.

4) Select “Search” from the menu.

You may also do a similar check on the website of its registrar.

1) Visit Link Intime’s website.

2) Choose the IPO name by clicking on “Company Selection.”

3) At this point, input your PAN, application number, IFSC, DP, or client ID.

4) Select “Search.”

If all the information is input properly, the status won’t show up until after allocation. By November 29, the equity shares should be credited to the demat accounts of the investors who were successful.

Tata Technologies is a pure-play manufacturing-focused Engineering Research & Development (ER&D) business with a primary emphasis on the automotive sector. It is a subsidiary of the major vehicle manufacturer Tata Motors.

Its shares on the gray market seem to be receiving a positive reception as well. Indeed, during the last three sessions, the premium has gone up by around ten percent. At the time this story was written, shares were trading on the gray market for eighty percent more than the issue price of Rs 500 per share. Prior to the first public offering (IPO), it was priced at a premium of 70% for subscriptions.

IPO shares may be purchased and sold on the grey market, an unauthorized marketplace, up to the listing. Participants often use the gray market premium—which does not include the company’s fundamentals—to determine the anticipated listing price of any initial public offering (IPO).

The successful listing prospects may be attributed in large part to the great interest for the Tata Group business, as seen by the subscription numbers, good parentage, robust financials, attractive valuations, and anticipated development potential in the engineering services sector.

Based on FY23 financials, Tata Technologies shares were trading at a P/E of 32.5x, which is less than those of rivals Tata Elxsi (69.6x), L&T Technology Services (41.2x), and KPIT Technologies (105.6x).

 

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