Tata Technologies IPO makes bumper debut, shares list at 140% to issue price


by mydhanush on 30 November 2023,  2 min read

Tata Technologies IPO Gets Listed at 140% Premium to Issue Price

Tata Tech made a blockbuster debut on the bourses on November 30, posting at 140 percent premium to the IPO price. The stock started trading at Rs 1,200 on the NSE and at Rs 1,199.95 on the BSE. Its issue price was Rs 500.

The IPO had garnered heavy interest from all categories of investors, with over 73.38 lakh total applications.

Conversely, the public offer saw a subscription of 69.43 times, notably with the qualified institutional buyers (QIBs) portion oversubscribed by an impressive 203.41 times.

The non-institutional investors (NIIs) portion experienced a subscription exceeding 62.11 times. The allocation for retail investors was oversubscribed by 16.50 times.

Also Read: Tata Tech IPO sees robust subscription

The issue was entirely an offer-for-sale (OFS) of 6.08 crore shares. The promoters included Tata Motors, and investors Alpha TC Holdings and Tata Capital Growth Fund 1. 

The issue worth Rs 3,042.52 crore had its price range set between Rs 475 and Rs 500 per share.

Tata Tech is a pure-play manufacturing-focused engineering research and development (ER&D) company, primarily focused on the automotive industry.

Meanwhile, in the last three years, the company’s revenue Compound Annual Growth Rate surpassed that of Tata Elxsi, L&T Tech, and KPIT Tech. Its EBITDA margin, at 23.7 percent, remains more or less equal to industry standards.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action taken is based on the information in this blog post may be done at own risk. Consult with a financial advisor before making any investment decisions.

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