The likely date of allotment of the TCS issue is anytime betwwen 23rd to 27th of August as the stocks is going to be listed by the end of this month.

The IPO of India's largest software exporter-TCS was subscribed 10.3 times towards the end of last day of its subscription on August 5, 2004. The IPO was subscribed two times at Rs 900, yesterday, first time ever since the IPO was launched.

The QIB (Qualified Institutional Bidders) portion for the country's much awaited public listing was subscribed by 9.1 times.

The institutional portion of the IPO, constituting 60 percent has been subscribed 7.3 times. The retail portion has been subscribed 2.75 times. SEBI had extended the filing of application forms by two hours today. The stock is expected to be listed by end of this month.

The TCS sale is Asia's largest tech IPO this year with market capitalization of $9.5 billion. Tata Sons has offloaded 3.17 percent stake, and would buy TCS Division from Tata Sons for Rs 2,300 crore post offer. The Jamsetji Trust has offload 2.09 percent stake, Navajbhai Ratan Trust 1.2 percent, and Indian Hotels 04 percent.

JM Morgan Stanley Private Ltd, DSP Merrill Lynch Ltd and JP Morgan India Pvt Ltd are the lead managers to the issue. Co-book running lead managers are Kotak Mahindra Capital Company Ltd, CLSA India Ltd, and SBI Capital Markets Ltd.

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