24 Nov 2023 , 12:20 PM
The Tata Technologies IPO has proven to be a significant success for the Tata Group, witnessing robust demand as the Rs 3,042.51-crore offering was oversubscribed 21.86 times. On the final day of bidding, November 24, investors bid for 98.41 crore equity shares against the issue size of 4.5 crore. Click here to subscribe the IPO.
This IPO marks the first public issue from the Tata Group since the Tata Consultancy Services IPO in 2004. The offering was fully subscribed within the initial hours of opening, concluding the debut day with a 6.54 times subscription and Day 2 with a substantial 14.85 times subscription.
On the final day, qualified institutional buyers and high net-worth individuals, who collectively have a 50 percent and 15 percent reservation in the net issue, subscribed 20.82 times and 45.33 times their allocated portions, respectively.
Retail investors, Tata Technologies employees, and Tata Motors shareholders also displayed strong interest, subscribing 13.60 times and 24.53 times their reserved portions, constituting 35 percent of the net issue.
The public offer, excluding the employees’ and shareholders’ quotas, represents the net issue. The IPO, with a price band set at Rs 475-500 per share, is entirely an offer-for-sale (OFS) of 6.08 crore shares by the promoters Tata Motors, and investors Alpha TC Holdings and Tata Capital Growth Fund 1. There is no fresh issue component, meaning that the entire issue proceeds, excluding IPO expenses, will go to the selling shareholders.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.