Tata Technologies | A Remarkable Debut on Dalal Street

Tata Technologies

Overview

Tata Technologies, a member of the prestigious Tata Group, made a sensational debut on Dalal Street, marking a significant moment in the Indian stock market. The company’s shares were listed at a staggering 140% premium over their issue price. Showcasing the immense investor confidence in this Tata Motors-promoted entity.

The Impressive Listing Details

On the National Stock Exchange (NSE), Tata Technologies’ shares opened at Rs 1,200, a premium of 140% over the issue price of Rs 500. Similarly, on the Bombay Stock Exchange (BSE), the shares debuted at Rs 1199.95. This remarkable listing places Tata Technologies alongside other successful companies like Latent View Analytics and Paras Defence and Space Technologies. Which have also seen their market value double on their debut.

Market Capitalization and Grey Market Premium

At the time of its debut, Tata Technologies boasted a market capitalization of Rs 48,678.20 crore. In the grey market, the shares were commanding a premium of Rs 425 per share, indicating an 85% listing pop for investors. This consistent premium in the unofficial market remaining over Rs 400 per share. It reflects the strong market sentiment towards the company.

The IPO Journey

Tata Technologies’ initial public offering (IPO) was set in the price range of Rs 475-500 per share, with a lot size of 30 equity shares. The IPO, which was open for bidding from November 22 to November 24, aimed to raise Rs 3,042.51 crore. It was entirely an offer for sale by the promoter and other selling shareholders.

Overwhelming Investor Demand

The IPO witnessed enormous demand across all investor categories, receiving 73,58,222 bids worth over Rs 1 lakh crore, translating to an overall subscription of 69.43 times. The qualified institutional bidders’ portion was subscribed to an impressive 203.41 times. While retail investors and non-institutional investors subscribed 16.50 times and 62.11 times, respectively.

Special Reservations in the IPO

Tata Technologies made special reservations in its IPO for eligible employees of the company and shareholders of Tata Motors Ltd and Tata Motors DVR Ltd. During the bidding process, investors subscribed to the reserved allocations 29.20 times and 3.70 times for the respective categories.

The Company’s Profile

Tata Technologies, established in 1994, is a global engineering services company under the Tata Group. It offers product development and digital solutions to original equipment manufacturers (OEMs) and their tier-I suppliers worldwide. The company’s expertise in providing turnkey solutions has made it a preferred partner in the industry.

Role of Financial Institutions

Renowned financial institutions JM Financial, Citigroup Global Markets India, and BofA Securities India managed the IPO, while Link Intime India served as the registrar for the issue.

Conclusion

Tata Technologies’ bumper debut on Dalal Street is not just a testament to the company’s robust business model and market reputation but also reflects the growing investor confidence in technology and engineering services. With its strong backing from the Tata Group and a global presence. Tata Technologies stands poised for a promising future in the industry.

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