Tata Technologies IPO: Tata Group's most awaited Tata Technologies IPO got listed on BSE and NSE today, Thursday 30th November.
Tata Technologies IPO: Tata Group's most awaited Tata Technologies IPO got listed on BSE and NSE today, Thursday 30th November. There has been an excellent listing of the company's shares. This share of Tata Group was listed on BSE at Rs 1199.95 with a premium of 140%. At the same time, the company's shares were listed on the NSE at Rs 1,200 with a premium of 140%. Shortly after the listing, these shares rose by almost 180% from their issue price to Rs 1398 on BSE. Let us tell you that the price band of Tata Technologies IPO was fixed at Rs 475-500. Accordingly, investors made huge profits on the very first day of listing. Let us tell you that after 18 years, a Tata Group company has been listed in the stock market. Earlier in 2004, shares of Tata Consultancy Services (TCS) were listed.
Got a tremendous response from investors
Let us tell you that the IPO of Tata Technologies received a tremendous response from investors. The IPO was subscribed 69.4 times on the third day. It had received a record 73.6 lakh applications. Let us tell you that the IPO opened on November 22 and closed on November 24. The company had launched an IPO to raise Rs 3042 crore.
What are the details?
Tata Tech's IPO is entirely an offer for sale (OFS) of 6.09 crore equity shares by the promoter and investors. The OFS comprises 60,850,278 shares, which includes the sale of up to 46,275,000 shares by promoter Tata Motors Ltd, the sale of up to 9,716,853 shares by investor Alpha TC Holdings and the sale of up to 4,858,425 equity shares by Tata Capital Growth Fund.