Stellar Debut! Tata Technologies Lists at a 140% Premium Over the Issue Price This was Tata Group's initial public offering in close to 20 years, with last being that of Tata Consultancy Services in 2004. The company aimed to raise INR 3,042.51 crore with its IPO
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As the year comes to an end, Tata Technologies get the best listing at the dalal street. It debuted on the BSE and National Stock Exchange at a premium of 140 per cent over the issue price of INR 500.
It opened its initial public offering from November 22 to November 24. The subscription was opened with a price band of INR 475 to 500 per Equity Share.
Tata Technologies Limited gets listed on BSE. Mr. Ajoyendra Mukherjee, Chairman & Independent Director, Tata Technologies and Mr. Warren Harris, CEO & MD, Tata Technologies along with Mr. Subhash Kelkar, Chief Information Officer - BSE, ringing the BSE Bell to mark the listing. pic.twitter.com/kHCOquDqdb— BSE India (@BSEIndia) November 30, 2023
Tata Tech debuted at INR 1200 at NSE and at INR 1199 at BSE. At the time of publishing the article, the shares were being traded at INR 1,320 and INR 1326.25, respectively.
This was Tata Group's initial public offering in close to 20 years, with last being that of Tata Consultancy Services in 2004. The company aimed to raise INR 3,042.51 crore with its IPO.
The equity shares of the drone maker were issued at a face value of INR 2 with offer for sale (OFS) of 60,850,278 shares. The sale will see Tata Motors Limited, Alpha TC Holdings Pte. Ltd. and Tata Capital Growth Fund I offer its shares.
The m-cap of Tata Tech stood at INR 53,314.99 crore at BSE and at INR 53,56,852.94 lakh.
Experts have suggested to hold on to the shares in a long run. The shares peaked at INR 1400 for the day.
Citigroup Global Markets India Private Limited, BofA Securities India Limited and JM Financial were the book-running lead managers for the IPO.