Bumper Debut! Tata Technologies Gets Listed At 140% Premium On India's Stock Market
The shares of Tata Technologies were listed at a premium of 140% (up Rs 700) on the exchanges on Thursday. The stock debuted at Rs 1200 on the NSE and BSE as against an issue price of Rs 500. Ahead of the listing, the shares commanded a premium of Rs 406 in the unlisted market. Listing gains aside, analysts are quite bullish on the company, even from a long-term perspective.
After a record-breaking IPO last week, Tata Technologies shares made a bumper debut on India's stock market today when they finally got listed. It's fair to say that lucky investors who got allotments in the Tata Tech IPO must be laughing all the way to the bank, with the stellar market debut doubling investors' wealth.
How Did Tata Technologies Shares Perform On Listing?
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Tata Technologies shares made a strong debut in the stock market. They got listed at a premium of 140% (up Rs 700) on the BSE and NSE today, i.e., on Thursday. The Tata Technologies stock debuted at Rs 1200 on the NSE and BSE as against its IPO price of Rs 500. Tata Technologies has raised Rs 3,042.51 crore via the IPO.
Which Record Did Tata Technologies IPO Break?
The IPO of Tata Technologies managed to break the record of LIC by garnering a record number of 73.58 lakh applications as compared to LIC's 73.38 lakh applications in its IPO in May 2022.
When Was Tata Technologies IPO Conducted?
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The first IPO by the Tata Group in more than 19 years was subscribed to 69.4 times during the period spanning November 22¨CNovember 24, with investors buying 312.65 crore equity shares against an offer size of 4.5 crore shares. Overall, they bid for Rs 1.56 lakh crore worth of shares in three days.
Also Read: Tata Technologies IPO Pushes This Little Known Tata Group Stock To All Time High
What Does Tata Technologies Do?
For the unversed, Tata Technologies is a global product engineering and digital services company founded in 1989. It is a subsidiary of automobile major Tata Motors and is a pure-play manufacturing-focused Engineering Research & Development (ER&D) company, primarily focused on the automotive industry.
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