Nowadays, A lot of people are showing interest in the stock market. The same can be seen in the response that IPOs are getting from the investors.
Meanwhile, the market has gone crazy after the Tata Group’s Tata Technologies IPO. The IPO has created many new records in terms of subscription and response.
Receives around 70 times the bid
Tata Technologies IPO opened on November 22. It was the last bidding date on Friday and the IPO received tremendous response in all categories. After the end of the bidding time, Tata Group’s IPO was subscribed about 70 times. 4,50,29,207 shares were offered in the IPO, while bids for 3,12,63,97,350 shares were received, which is 69.43 times more than the issue size.
Category wise bids
The IPO got a maximum subscription of 203.41 times in the Qualified Institutional Investors category. Non-institutional investors Subscribed 62.11 times. Whereas, shares allotted for the retail investors got 16.50 times the bid. The category reserved for employees was subscribed 3.70 times and other categories were subscribed 29.19 times.
Performing well in GMP
Tata Tech’s IPO created a record as soon as it was open for subscription on November 22. It was fully subscribed in less than an hour after the bidding started. Now a new record of response has been made in the stock market. Records are being made in the gray market as well. Before the IPO opened, Tata Tech’s shares were trading at a 70 percent premium in the unlisted market. Currently, Tata Tech’s GMP has crossed 80 percent premium.
