In a remarkable turn of events, Tata Technologies, a subsidiary of Tata Motors, is set to conclude the allotment of IPO shares today, November 28, 2023. This comes on the heels of an astounding response from investors, marking a significant milestone for the Tata Group as it marks its return to the IPO market after a two-decade hiatus.
Tata Technologies IPO Allotment Update
The three-day stake sale of Tata Technologies witnessed overwhelming demand, with the IPO being oversubscribed by an astonishing 69.43 times. Investors poured in bids worth ₹1.56 lakh crore for an issue size of ₹2,200 crore, excluding the anchor portion. This overwhelming response underscores the strong investor confidence in the Tata brand and its potential for growth.
How To Check Tata Technologies IPO Allotment Status
Investors who eagerly await their share allotment status can check it conveniently through either the BSE website or the portal of the IPO registrar. Here’s how you can access your allotment status:
On the BSE Website:
1. Select ‘equity’ and ‘issue name’ (Tata Technologies Limited) in the dropdown.
2. Enter your ‘application number’ or ‘PAN number’.
3. Check the box ‘I am not a robot’, and click on the ‘search’ button.
On the IPO Registrar Portal:
1. Click on ‘Tata Technologies Limited – IPO’ in the dropdown.
2. Choose and enter your ‘PAN number’, ‘application number’, or ‘DP Client ID’.
3. Click on ‘search’.
These simple steps will help investors swiftly access their share allotment status and stay informed about their investments in Tata Technologies.
Check Tata Technologies IPO allotment status on BSE website
Tata Technologies’ IPO is especially noteworthy as it marks the first public offering from the Tata Group in twenty years. The company opted for a unique approach by offering shares purely through an offer for sale (OFS). This means that Tata Technologies will not receive any proceeds from the public offer; instead, existing shareholders are selling their stakes.
This strategic decision to go the OFS route allows Tata Technologies to provide an exit opportunity to existing shareholders while simultaneously enabling new investors to partake in the growth story of the company. It’s a win-win scenario that aligns with the broader strategy of the Tata Group.
The Tata Group has been a pillar of the Indian business landscape for over a century, with a strong legacy of ethical business practices and commitment to innovation. This IPO not only marks a return to the market but also reaffirms the Tata Group’s vision to continue its growth trajectory in the technology and automotive sectors.
Tata Technologies, a leading global engineering and product development digital services company, is well-positioned to capitalize on emerging opportunities in the automotive and technology sectors. The IPO has generated significant interest from investors looking to participate in the future growth of the company.
As Tata Technologies finalizes the allotment of IPO shares, investors eagerly await their piece of this historic offering. The overwhelming response to the IPO and the steps taken to ensure transparency in the allotment process reflect the commitment of Tata Technologies and the Tata Group to uphold the highest standards in their dealings with stakeholders.