November 22, 2023Business Desk

Tata Technologies IPO oversubscribed, ends at 6.54 times subscription

Tata Technologies IPO Triumph: The IPO of Tata Technologies, specializing in engineering and digital product development services, achieved rapid full subscription within minutes of opening.

Source: Republic World

Striking Investor Interest: The IPO concluded with an impressive 6.54 times overall subscription, underscoring strong investor enthusiasm for the offering.

Source: Freepik

Tata Group's Return to IPO Scene: This marks the Tata Group's return to the IPO market after nearly two decades, with Tata Consultancy Services being the last to go public in 2004.

Source: Unsplash

Non-institutional investors led the charge with an outstanding subscription rate of 11.69 times, while RIIs and QIBs subscribed 5.42 times and 4.08 times, respectively.

Source: Unsplash

Pre-IPO Fundraise Success: Tata Technologies raised Rs 791 crore from anchor investors a day prior to the IPO launch, indicating strong pre-IPO demand.

Source: Unsplash

The Rs 3,042.5 crore IPO is entirely an Offer for Sale (OFS) of 6.08 crore equity shares, with Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund I participating in the divestment.

Source: Republic World