Bumper listing! Tata Technologies Shares List at 140% Premium; What Should Investors Do? – News18

Tata Technologies Shares List on BSE, NSE:The shares of Tata Technologies listed at a premium of 140% (up Rs 700) on the exchanges on Thursday. The stock debuted at Rs 1200 on NSE and BSE as against an issue price of Rs 500.

The first Tata Group IPO in two decades received bids worth Rs 1.56 lakh crore for an offer size of just over Rs 3,000 crore.

Tata Technologies had opened its IPO for subscriptions from November 22 to 24. On the last day, the IPO was subscribed 69.43 times on the final day of subscription.

While the public issue had a price band of Rs 475-500 per share, Tata Motors in a regulatory filing said that Tata Technologies has finalised an offer price including the anchor investor offer price, at Rs 500 per equity share of face value of Rs 2 each.

Talking about its grey market premium (GMP), the shares of Tata Technologies were being traded at Rs 425 in the grey market as of 6:03 am on Thursday.

As mentioned earlier, Tata Technologies is the first company from the Tata Group to float an IPO in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004.