Last Updated: November 30, 2023, 10:23 IST
Tata Technologies Lists on NSE, BSE
Multibagger on Debut! Tata Technologies shares checklist at 140% premium; What ought to traders do now?
Tata Technologies Shares List on BSE, NSE: Shares of Tata Technologies Ltd made a stellar debut at Dalal Street on Thursday. The Tata Group inventory was listed at Rs 1,200, a premium of 140 per cent, over its difficulty worth Rs 500 on the National Stock Exchange. Whereas, it was listed at a premium of 140 per cent at Rs 1199.95 towards the identical difficulty worth on BSE.
The first Tata Group IPO in twenty years obtained bids price Rs 1.56 lakh crore for a proposal measurement of simply over Rs 3,000 crore.
While the general public difficulty had a worth band of Rs 475-500 per share, Tata Motors in a regulatory submitting stated that Tata Technologies has finalised a proposal worth together with the anchor investor supply worth, at Rs 500 per fairness share of face worth of Rs 2 every.
Talking about its gray market premium (GMP), the shares of Tata Technologies have been being traded at Rs 425 within the gray market as of 6:03 am on Thursday.
Tata Technologies had opened its IPO for subscriptions from November 22 to 24. On the final day, the IPO was subscribed 69.43 occasions on the ultimate day of subscription.
It had separate reservations for eligible workers of the corporate and shareholders of Tata Motors Ltd and Tata Motors DVR Ltd. The allocation reserved for shareholders of Tata Motors and eligible workers was booked, 29.20 occasions and three.70 occasions, respectively throughout the bidding course of.
Tata Technologies is a world engineering companies firm by Tata Group, which presents product growth and digital options. Incorporated in 1994, the Tata Motors promoter entity presents turnkey options, to world authentic gear producers (OEMs) and their tier-I suppliers throughout the globe.
As talked about earlier, Tata Technologies is the primary firm from the Tata Group to drift an IPO in practically twenty years. Tata Consultancy Services was the final IPO from the group in 2004.
What Should Investors Do Now?
Shivani Nyati, Head of Wealth, Swastika Investmart Ltd., stated: “Tata Technologies, a global leader in engineering services, made its much-anticipated stock market debut today, listing at an impressive blockbuster premium of 140 per cent over its IPO price of Rs 500 per share.”
“The overwhelming response to the IPO was evident in its staggering oversubscription of 69.43 times. This robust investor interest reflects the company’s strong fundamentals and promising growth prospects and of course the legacy of the Tata group. The listing of Tata Technologies is a positive development for the company and the engineering services sector. Investors who participated in the IPO should consider holding on to their shares for the long term, as the company is well-positioned for sustained growth.”
