Tata Technologies IPO: GMP Jumps after Strong Subscription Status; All Eyes Set on Allotment and Listing Date

MUMBAI: After the successful closure of the Tata Technologies Ltd initial public offering (IPO), investors and market enthusiasts are now eagerly awaiting the IPO allotment date and the subsequent listing date. The T+3 schedule suggests that Tata Technologies IPO allotment is likely to occur on the third trading day following the close of the IPO subscription. Given that the IPO concluded on Friday, the Tata Technologies IPO allotment date is expected to be on Tuesday, November 28, 2023. This date coincides with the reopening of the stock market after the weekend; however, investors should note that the Indian stock market will remain closed on Monday due to Gurunanak Jayanti. Therefore, it is highly probable that the Tata Technologies IPO allotment date will be on Tuesday, followed by the listing date on Thursday, November 30, 2023.

In the wake of strong subscription numbers for the Tata Technologies IPO, the grey market has seen a surge in bullish sentiment. As of today, shares of Tata Technologies Ltd are commanding a premium of ₹414 per equity share in the grey market. Market observers note that this represents an ₹11 increase from the previous Thursday’s grey market premium of ₹403. The heightened enthusiasm in the grey market follows an overwhelming response from investors.

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Also See: Tata Technologies IPO GMP

Prior to the opening of the Tata Technologies IPO on November 21, 2023, the grey market premium stood at ₹355, and it has now surged to ₹414. This significant uptick in just four days suggests growing optimism surrounding the IPO’s performance.

It’s worth noting that the Tata Technologies IPO grey market premium has risen despite choppy trends on Dalal Street. Market experts speculate that the grey market premium may further rise if there is a trend reversal on Dalal Street when it reopens on Tuesday, following an extended weekend due to the stock market holiday on Monday for Gurunanak Jayanti.

Tata Technologies IPO Subscription Status

During the three-day subscription period from November 22 to November 24, 2023, the Tata Technologies IPO received a staggering 69.43 times oversubscription, with the retail portion being subscribed 16.50 times. The Non-Institutional Investors (NII) category witnessed a subscription rate of 62.11 times, while the Qualified Institutional Buyers (QIB) segment experienced an astonishing oversubscription of 203.41 times.

Tata Technologies IPO Listing Date

As mentioned earlier, the Tata Technologies IPO allotment date is anticipated to be on November 28, 2023. Subsequently, the most likely listing date for Tata Technologies IPO is set for Thursday, November 30, 2023.

How to Check Tata Technologies IPO Allotment Status

Investors who have applied for the Tata Technologies IPO can check their application status online by logging in at the BSE website or the official registrar of the public offer, Link Intime India Private Ltd. For added convenience, they can access the direct BSE link here or visit the direct Link Intime portal link here.

As anticipation builds for the Tata Technologies IPO allotment and listing, market enthusiasts will be closely watching how this highly-subscribed offering performs when it finally hits the stock market next week.

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