The allotment for the initial public offer (IPO) of Tata Technologies is likely to be finalised tomorrow, November 28. Investors can check their allotment status on the issue s registrar Link Intime India s website as well as on BSE.
The IPO of Tata Technologies is generating a strong response from investors. Moving away from the initial noise, much of the optimism around the company is due to cheap valuations when compared with listed peers such as KPIT, L&T Tech and Tata Elxsi.
Tata Tech IPO, which closes on November 24, is the first from Tata Group since TCS, which is also one of the reasons why the issue is generating considerable buzz. Analysts are overwhelmingly positive on the issue and, in fact, prefer the IPO over four other issues currently open.
Tata Tech IPO: Analysts advise investors to subscribe to the issue over fair pricing, strong brand presence and strong financials. "Considering the growth opportunities and strong fundamentals of Tata Tech, we recommend a Subscribe rating for this IPO," said Ventura.
At 10:42 am, the Rs 3,042 crore IPO was subscribed 1.21 times. The quota reserved for qualified institutional buyers was subscribed about 2 times, non-institutional investors 1.25 times. The portion reserved for shareholders of parent entity Tata Motors 1.26 times while the retail quota was subscribed 86%.