Tata Tech IPO Latest News: This week is going to prove to be very special for the stock market. What the stock market investors had been waiting for for years is going to be fulfilled this week. We are talking about the most awaited IPO of the stock market i.e. Tata Technologies IPO, which is going to open for subscription on 22nd November.
Many shares of Tata Group have proved to be multibaggers in the market. Be it TCS or Titan or Trent, shares of Tata Group have made many investors rich. Even the shares of Tata Group had the biggest contribution in the success of the late veteran investor Rakesh Jhunjhunwala, known as the Big Bull of the Indian market.
Now after almost two decades, a new IPO is about to come from the treasury of Tata Group. Before this, the last IPO of Tata Group came in the year 2002, when Tata Group’s IT company TCS had entered the market. Today TCS is the second largest company in the stock market.
Only Reliance Industries is ahead in terms of market cap i.e. value. Naturally, there is a lot of enthusiasm in the market regarding Tata’s new IPO. Especially retail investors are eagerly waiting for Tata’s new IPO.
This IPO of Tata Group will open for investors on 22nd November and bidding can be done till 24th November. The price band of Rs 475 to 500 has been fixed for this IPO. There are 30 shares of Tata Tech in one lot of IPO. This means that a retail investor will need at least Rs 15,000 to invest in this IPO.
Tata Tech shares will be allotted on 30th November after the closing of bidding on 24th November, the last day of this week. For those investors who do not get units in the IPO, refund will be started on December 1. Shares will be credited to the demat accounts of successful bidders on 4th December. Listing of Tata Tech shares in the stock market will take place on December 5.
There are still two days left for Tata Tech’s IPO to open, but it is getting a tremendous response in the gray market. On Sunday 19th November, GMP of Tata Tech has become Rs 240-260. That means in the gray market, Tata Tech shares are trading at 70 percent premium before the IPO. If the situation in the market remains like this, then the investors of this IPO are going to earn 70 percent in a few days.
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