The Tata Technologies listing on November 30 is one of the most talked-about Dalal Street debut in recent times. The grey market activity over the last 43 sessions signals an upward trend in the GMP, with current range between ₹240 -414, reinforcing the anticipation of a robust listing for Tata Technologies shares.
The IPO, which closed on November 24, witnessed an overwhelming subscription of 69.43 times, underscoring the robust demand for Tata Technologies shares. Retail investors showed keen interest with a subscription rate of 16.50 times, while the Non-Institutional Investors (NII) portion was subscribed 62.11 times. The Qualified Institutional Buyers (QIB) portion saw an unprecedented subscription of 203.41 times. The employee portion and the shareholder portion also attracted significant attention, being subscribed 3.70 times and 29.19 times, respectively.
According to data from the BSE, bids were received for a staggering 3,12,64,91,340 shares against the total offer of 4,50,29,207 shares. The IPO, open for subscription from November 22, gained momentum swiftly. The subscription status on Day 1 was 6.55 times, and by Day 2, it soared to 14.85 times.
In the grey market, Tata Technologies IPO GMP (Grey Market Premium) is currently at +392, indicating a premium of ₹392 per share. This suggests a strong investor sentiment and positive market expectations. Analysts at investorgain.com project an estimated listing price of ₹892 per share, considering the upper end of the IPO price band. This represents a remarkable 78.4% premium over the IPO price of ₹500.
