- Tata Technologies made a big debut on the stock exchanges as the Tata Group’s first IPO listing in almost 20 years.
- The opening price of the Tata Group stock on the BSE was ₹1,199.95 per share.
- The three-day bidding between November 22–24 saw 69.43 bookings for Tata Tech’s public offering, a Tata Motors subsidiary.
Beating street predictions, Tata Technologies made a big debut on the stock exchanges as the Tata Group’s first initial public offering (IPO) listing in almost 20 years. At ₹1,200 a share on the NSE, Tata Technologies’ shares debuted, 140% higher than the ₹500 IPO price in their first offering.
The opening price of the Tata Group stock on the BSE was ₹1,199.95 per share. Following their IPO, Tata Technologies shares increased in value by 180% to ₹1,400 each, while their market capitalization reached ₹56,555 crore.
Tata Tech
With its shares reaching a new 52-week high in early trading, Tata Tech promoter Tata Motors continued its winning run for the third day. Given its extensive knowledge of the automotive sector, recognizable brand with seasoned promoters, and strong financial performance, analysts had generally advised “subscribe” to the issue.
After surpassing the likes of LIC of India, Reliance Power, Glenmark Life Sciences, SBI Life Insurance, Zomato, and Nykaa, among others, Tata Tech’s ₹3,042.51 crore IPO set a record for the most applications received on its issue.
Tata Tech shattered the record of 73.38 lakh applications of LIC of India, the nation’s largest-ever IPO after Paytm, which launched in May 2022, with 73.58 lakh applications on the last day of its issue.
The three-day bidding between November 22–24 saw 69.43 bookings for Tata Tech’s public offering, a Tata Motors subsidiary. Record-breaking 203.41 subscriptions were made to the portion of the offering reserved for qualified institutional buyers (QIBs).
A minimum of thirty shares were required for investment, and retail investors could apply with as little as ₹15,000, up to ₹195,000 for thirteen lots (390 shares).
