“Tata Technologies stirred substantial market excitement with its Offer for Sale (OFS) IPO, generating robust subscription figures from November 22 to November 24, 2023. The IPO, priced between Rs 475-500 per share, witnessed an impressive response, garnering a total of 39,83,81,160 bids against the available 4,50,29,207 shares, as reported by the Bombay Stock Exchange.
Issue size of Tata technologies is ₹3,042.51 crore. Bids can be placed in a lot size of 30. The IPO is set for allotment finalization on November 30, 2023. The listing of Tata Technologies shares on BSE and NSE is scheduled for December 5, 2023.
Under the TML Shareholders Reservation Portion, eligible TML Shareholders can place bids, with each bid capped at a maximum amount of Rs. 200,000 (Rupees Two Lakhs only). Additionally, these eligible TML Shareholders have the flexibility to bid in the Employee Reservation Portion, as well as the Non-Institutional Bidder Portion or the Retail Individual Bidder Portion, as outlined in the RHP. It’s important to note that such bids will not be treated as multiple bids, ensuring a streamlined process. For further details, please refer to the “Offer Structure” on page 458 of the RHP.
The application process can be carried out either electronically or through the physical Bid-cum-Application Form. For the convenience of applicants, an electronic version of the Bid-cum-Application Form is available for download on the BSE website at https://ibbseforms.bseindia.com/ASBAFORMS/BlankForms_New.aspx?ipo=2465.
The employee category demonstrated a notable subscription rate of 1.61 times, highlighting strong interest from this segment. Simultaneously, the shareholder portion experienced an exceptional oversubscription of 12.80 times, indicating robust demand among existing investors.
