Following a spectacular IPO, Tata Technologies’ stock price has experienced a significant increase. Following its issuance listing, Tata Technologies’ shares have increased threefold, marking a historic accomplishment for the Indian stock market in 2023.
November 22 marked the opening of the Tata Technologies IPO, which ended on November 24. Even though the IPO consisted solely of an offer for sale (OFS) for 6.08 crore equity shares, the company’s share prices benefited greatly.
With a 140 per cent premium over the price band of the initial public offering, Tata Technologies shares began trading on Thursday at ₹1,200 on the National Stock Exchange (NSE) and ₹1,199 on the Bombay Stock Exchange (BSE).
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The current share price has increased by 180 per cent from the issue price of the Tata subsidiary’s initial public offering (IPO) of ₹475 to ₹500. The shares plunged to ₹1338.95 at 12 pm on Thursday after surging to ₹1400 in the early trade hours.
Concurrently, the company’s market valuation experienced a notable increase, documented at ₹54,353 crore on the BSE today. Despite the benchmark Sensex falling 0.29 per cent on Thursday and the Nifty 50 index trading 0.18 per cent lower at the time, Tata Technologies shares surged higher.
Highlights of Tata Technologies’ IPO
The bid window was open from November 22 to November 24 for the Tata Group’s first initial public offering (IPO) in 20 years with Tata Technologies. The minimum lot size required for the purchase of 30 shares and the price range was set at ₹475 to ₹500.
According to LSEG data, if gains hold, Tata Technologies is expected to post the largest jump for domestic listings so far this year and among the best-ever listing-day gains in India. Because of its successful IPO listing, the company is also on the verge of reaching the USD 7 billion valuation mark.
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