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Tata Technologies IPO: Check price band, bidding period, and other details

The Tata Technologies Ltd IPO includes a reserved 10 per cent quota for Tata Motors shareholders

Tata Technologies

A bidder can apply in lots, and one lot will comprise 30 Tata Technologies shares

BS Web Team New Delhi

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The Tata Group is launching the initial public offering (IPO) of Tata Technologies Limited on November 22, 2023. The bidding for Tata Technologies IPO will remain open till November 24, 2023, and thus, Tata Technologies IPO will open on Wednesday this week, and it will remain open for bidders till Friday.

What is the price band of the Tata IPO?

The Tata Group has fixed the Tata Technologies IPO at Rs 475 to Rs 500 per share. This valuation places the Tata Group company at over Rs 20,283 crore, calculated based on the upper price band of the IPO. According to a report in the Mint, the shares of Tata Technologies are available at a premium of Rs 352 in the grey market today, which is unchanged as it is Rs 17 lower from its weekend GMP of Rs 369 per share.

Market observers said that a dip of Rs 17 should not be a cause of worry for investors as Tata Technologies IPO GMP is still near 70 per cent of Tata Technologies IPO price band of Rs 475 to Rs 500.

Also Read: Fedfina announces Rs 1,092 cr IPO; sees no impact of RBI norms on issue

Is there a quota for Tata Motors shareholders?

The IPO includes a reserved 10 per cent quota for Tata Motors shareholders.

What is the bidding period for the Tata IPO?

The IPO will be open for bidding from November 22, and will conclude November 24. The bidding is likely to take place between 10 am to 5 pm during this period.

A bidder can apply in lots, and one lot will comprise 30 Tata Technologies shares. In the wake of T+3 schedule, Tata Technologies IPO allotment date is most likely on November 27 or November 28, 2023, and Tata Technologies IPO listing date may fall on November 29, 2023.

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What is the lot size of the Tata IPO?

Investors can bid for a minimum of 30 shares, requiring a minimum investment of Rs 14,250, calculated using the lower price band of Rs 475. The Tata Technologies IPO aims to raise Rs 3,042.51 crore and follows an offer-for-sale (OFS) structure, implying that funds will not go to the company but to the selling shareholders.

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First Published: Nov 20 2023 | 11:15 AM IST

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