Tata Group's IPO Tata Technologies Oversubscribed within minutes

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Tata Group’s IPO Tata Technologies comes after 20 years and Oversubscribed

| Updated: November 22, 2023 15:45

Tata Group's IPO Tata Technologies comes after 20 years

In a resounding display of investor confidence, Tata Technologies’ much-awaited initial public offering (IPO) was fully subscribed within minutes of its opening on Wednesday, marking a significant milestone for the Tata Group. This marks the first IPO from the conglomerate in nearly two decades, with Tata Consultancy Services (TCS) being the last group company to go public in 2004.

The overwhelming demand for Tata Technologies’ shares underscores the company’s strong position in the engineering and product development digital services sector. Investors oversubscribed the IPO by 2.89 times, bidding for over 130.3 million shares compared with the 45 million shares on offer. This enthusiasm is fueled by India’s robust economic growth, a flourishing consumer market, and the country’s emergence as a global hub for technology innovation.

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The grey market, which serves as an unofficial platform for trading IPOs before their official listing, indicates a potential listing gain of approximately 70% for Tata Technologies. This optimistic outlook has prompted many brokerages to advise investors to subscribe to the issue, anticipating substantial benefits from both initial listing gains and long-term investment returns.

The strong participation from retail investors, with their portion being subscribed 2.72 times, further highlights the broad appeal of Tata Technologies’ IPO. This indicates that the company has not only captured the attention of institutional investors but also resonates with the broader investing public.

With its robust fundamentals, strong investor backing, and promising growth prospects, Tata Technologies is poised for a successful IPO and a bright future in the dynamic world of digital services.

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