For the first time in 20 years, the Tata Group has started selling shares to the public for Tata Technologies, and it has made a big impact in the stock market.
People are now eagerly waiting for the day when the shares will be assigned, which is expected to happen by November 28.
Tata Technologies, a part of Tata Motors, will decide who gets how many shares from the public offering by that date.
After this decision is made, all investors can find out if they were given any shares by checking the BSE website or the IPO registrar’s official website.
The Tata Technologies IPO was very popular, with people wanting to buy almost 70 times more shares than were available.
The price for each share was between ₹475 and ₹500, and each person had to buy at least 30 shares.
Most of the shares were bought by big investors like institutional buyers and wealthy individuals.
They bought a lot more than what was set aside for them – 203.41 times more for institutional buyers and 62.11 times more for wealthy individuals.
Tata Technologies was able to collect over ₹3045 crore by selling shares in the IPO. However, it’s important to note that this money doesn’t go to the company itself.
Instead, it goes to the people who originally own the company, like Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund I.
The value of Tata Technologies shares in the unofficial market (grey market) is currently ₹414, and it’s going up.
This is a good sign for investors. The day when the shares will be officially listed on the stock market is expected to be November 28, Tuesday.
If you want to know if you got any shares in Tata Technologies, follow these steps:
1) Go to the official website of the Bombay Stock Exchange.
2) Choose ‘equity’ from the menu.
3) Click on Tata Technologies Limited from the dropdown box.
4) Enter either your application number or PAN number.
5) Check the box that says ‘I am not a robot’ and click on ‘Search’.