Tata Technologies’ shares have made an impressive debut on stock exchanges, listing at INR 1,200 with a premium of 140% on BSE. Even after the listing, the stock continues to show robust growth, trading at INR 1,374.15, marking a 14.52% increase in early trading.
Highlights:
- Tata Tech’s shares listed at INR 1,200 with a premium of 140%.
- Early trading showed the stock at INR 1,374.15, a 14.52% increase.
- The IPO was oversubscribed 64.43 times.
For the first time in 20 years, a Tata Group share, Tata Technologies, has been listed on stock exchanges. The market witnessed a tremendous listing of Tata Tech’s shares, which was a part of the initial public offering (IPO). The shares listed on BSE with a premium of 140% at INR 1,200 and have continued to exhibit strong upward momentum post-listing.
In the early trading hours, the stock surged by 14.52% to reach INR 1,374.15. Investors who participated in the IPO have seen returns of more than double their investment, with a total return of 175%. The IPO subscription, open from November 22 to November 24, had a price band of INR 475 to INR 500 per share.
The IPO, amounting to INR 3,042.51 crores for Tata Technologies, was entirely offered for sale. The subscription for the IPO was overwhelming, reaching 64.43 times the offered shares. The stock was already trading at a premium of 80%, or INR 400, in the grey market on Thursday morning.
The IPO received a phenomenal response from investors. The issue received bids for 312,63,97,350 shares against the offered 4,50,29,207 shares. Retail investors subscribed 16.50 times, qualified institutional investors subscribed 203.41 times, and non-institutional investors subscribed up to 62.11 times. Additionally, the company’s employees subscribed 3.70 times, and shareholders subscribed up to 29.19 times their allotted shares.
