These days, investors’ interest in the stock market has increased. This can be seen from the response to the IPO being launched in the market. IPOs are being launched one after the other, and investors are eagerly adopting them. Meanwhile, the market has gone wild after Tata Group’s IPO. This IPO has created many new records in terms of subscription and response.
Bids Came For So Many Shares
This IPO of Tata Group company Tata Tech opened on November 22. The last date for bidding for the IPO was today, November 24. This IPO received tremendous response in all categories. After the end of the bidding time, this IPO was subscribed about 70 times. 4,50,29,207 shares have been offered in the IPO, while bids have been received for 3,12,63,97,350 shares, which is 69.43 times more.
Category Wise Bids
It received a maximum subscription of 203.41 times in the category of Qualified Institutional Investors. They subscribed 62.11 times in the category of non-institutional investors. Retail investors also got behind this IPO and subscribed 16.50 times. The category reserved for employees was subscribed to 3.70 times, and other categories were subscribed to 29.19 times.
That’s Enough GMP Now
Tata Tech’s IPO created a record as soon as it was launched when it was fully subscribed less than an hour after the bidding started. Now, a new record of response has been made in the stock market. On the other hand, record after record is also being made in the grey market. Before the IPO opened, Tata Tech’s shares traded at a 70% premium in the unlisted market. Currently, Tata Tech’s GMP has crossed 80 per cent.
This Is Expected From Excellent GMP
Grey market premium gives a rough idea of what kind of listing the concerned share will be in the stock market. If we look at the grey market premium of Tata Tech, this share can provide 80 per cent profit to the investors of its IPO as soon as it is listed.
Shares Will Be Allotted On November 30.
Investors have been waiting for this IPO of Tata Group for a long time. There was no IPO of any Tata company for almost two decades. This is the first issue of Tata Samay after the TCS IPO in 2002. After the bids are over, it is the turn of allotment of shares. Tata Tech shares will be allotted on November 30. Tata Tech shares will be credited to the demat accounts of lucky investors on December 4. After that, the market shares will be listed on December 5.
So Much Profit Expected On Every Lot
There are 30 shares of Tata Tech in one lot of Tata Tech IPO. That means a typical retail investor needs at least Rs 15,000 to invest in this IPO. If we look at an 80 per cent premium, then common investors of this IPO can get a massive profit of Rs 12 thousand on every investment of Rs 15 thousand.
