- By Aditya Pratap Singh
- Thu, 30 Nov 2023 11:12 AM (IST)
- Source:JND
Tata Technologies IPO Listing Updates: The Shares of Tata’s Group Tata Technologies on Thursday were listed at a whopping premium of 140% on exchanges. The most awaited listing of the company’s shares doubles investors' money on the day of debut on NSE and BSE. The stock opened at Rs 1200 against the IPO’s issue price of Rs 500 (with a premium of Rs 700).
Before the listing, the stock was trading at a premium of Rs 406 in the unlisted market. Today, the stock is listed on NSE at Rs. 1,200 and on BSE at Rs. 1,199.95 while its issue price was Rs. 500.
Tata Technologies IPO was the first IPO of Tata Group in the last 19 years. Tata Consultancy Services (TCS) Group's last IPO was came in 2004.
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IPO was subscribed 69.43 times
The IPO received high interest from all categories of investors, with a total of 73.38 lakh applications received. The public offer was subscribed 69.43 times while the allotment to qualified institutional buyers (QIB) was subscribed 203.41 times. The portion reserved for non-institutional investors (NIIs) and retail investors was recorded at 62.11 times and 16.50 times respectively.
The Initial public offering was an offer for sale (OFS) of 6.08 crore equity shares by promoter Tata Motors and investors Alpha TC Holdings and Tata Capital Growth Fund. 3,042.52 crore at an issue price of Rs.475 crore. 500 per share.
Tata Technologies IPO Details
- Company's Board members decided price Range between Rs 475- Rs 500 for the IPO
- The Lot size for the Tata Group’s IPO was 30
- Tata Technologies aimed to raise Ra 3,042.51 cr through IPO ( issue size: 3,042.51 cr)
- IPO opened on 22 November
- IPO Closed on 24 November