Tata Technologies Limited IPO has garnered significant attention in the financial market, marking the first IPO from the esteemed Tata Group in nearly two decades. With a subscription rate of 69.43 times and bids worth ₹1.56 lakh crore for an issue size of ₹2,200 crore, investors are eager to determine their share allotment status before the anticipated listing on November 30. This article provides a comprehensive guide on how to check your Tata Technologies IPO share allotment status, delves into the Grey Market Premium (GMP), and outlines expectations for the listing day.
Checking Allotment Status:
Investors can track their application status on either the Bombay Stock Exchange (BSE) or Link Intime Private Limited, the registrar of the issue.
Follow these steps to check your Tata Technologies Limited IPO allotment status:
Via BSE Website:
- Visit the BSE website.
- Select ‘Equity’ and choose the issue name (Tata Technologies).
- Enter your application number and PAN card number.
- Click on the “Search” button.
Via Link Intime India’s Website:
- Visit the Link Intime website.
- Click on ‘Company Selection’ and choose the IPO name (Tata Technologies).
- Enter your PAN, application number, DP/Client ID, or account number/IFSC.
- Click on ‘Search.’
Ensure that you enter the details accurately for the allotment status to appear. Successful applicants’ demat accounts can anticipate the shares’ crediting by November 29.
Grey Market Premium and Listing Expectations:
The listing of Tata Technologies IPO is on November 30, with a Grey Market Premium (GMP) currently standing at ₹414, indicating an anticipated listing price of around ₹914—an impressive 83% premium.
However, it’s important to note that GMP is non-regulated and speculative, lacking correlation with the company’s fundamental financial aspects. Analysts recommend a ‘Subscribe’ rating based on improving financials, a strong brand legacy, and reasonable valuations.
The IPO Details:
Priced between ₹475-500 per share, Tata Technologies IPO witnessed overwhelming demand, subscribing 69.43 times. The Qualified Institutional Bidders (QIB) led with a subscription of 203.41 times, followed by non-institutional investors at 62.11 times and retail investors at 16.5 times. Investors bid 3.7 times for the Employees’ portion, while the ‘Others’ category received a subscription of 29.20 times.
Tata Technologies sold its shares in an Offer for Sale (OFS), aiming to raise ₹3,042.51 crore. The company is cash-generating, concluding 2023 with $150 million in cash. Analysts estimate the post-issue market cap to range between ₹19,269 crore and ₹20,283 crore.
Financial Performance:
On the financial front, Tata Technologies demonstrated robust growth, with total income growing at a CAGR of 36.16% over FY21-23. The company operated on an EBITDA Margin of 18.6% for FY23 and 18.39% for H1FY24. The profit after-tax margin came in at 14.14% for FY23 and 13.93% for H1FY24.
As investors eagerly await the listing day, it’s crucial to approach the Grey Market Premium with caution and focus on the company’s fundamental strengths. The Tata Technologies IPO sets a significant milestone in the history of the Tata Group, and investors are advised to stay informed and make decisions based on thorough analysis.
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