New Delhi: It\u2019s really a good morning for those who have subscribed to initial public offerings of Tata Technologies, and were lucky enough to have got the stock allocated against their name, as the Tata Group company on Thursday made its stock market debut with a bumper 140 per cent premium over its issue price.<\/p>\n
The initial public offering (IPO) of Tata Technologies, the first by a Tata Group entity in 20 years, was widely tracked by the investors. Tata Consultancy Services was the last IPO from the group back in 2004.<\/p>\n
Tata Group\u2019s Tata Technologies shares on Indian stock exchanges listed at Rs 1,200 against its issue price of Rs 500. It rose further to trade at Rs 1,307 at 10.24 am.<\/p>\n
The Tata Company\u2019s much-awaited IPO had received heavy interest from all categories of investors, with reportedly over 73.38 lakh total applications.<\/p>\n
The public offer was subscribed 69.43 times, with the quota reserved for qualified institutional buyers (QIBs) getting booked as high as 203.41 times.<\/p>\n
Tata Technologies had opened its IPO for subscriptions from November 22 to 24
\n\u201cThis robust investor interest reflects the company\u2019s strong fundamentals and promising growth prospects and of course the legacy of the Tata group,\u201d Shivani Nyati, Head of Wealth, Swastika Investmart Ltd said after the listing.<\/p>\n
\u201cThe 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,\u201d Shivani Nyati added.<\/p>\n
The shares of Gandhar Oil Refinery too listed on the Indian bourses today.
\nData showed Gandhar Oil Refinery India Limited made its stock market debut, by listing on the BSE and NSE at Rs 298 per share, 76 per cent higher than its IPO price of Rs 169.<\/p>\n
\u201cThe IPO was subscribed 64.05 times, which is significantly higher than the expected. This strong response from investors could be due to a number of factors, including the company\u2019s strong track record of growth and profitability, its diversified customer portfolio, and its strong distribution network,\u201d Nyati added.<\/p>\n
\u201cOverall, the listing of Gandhar Oil Refinery India Limited was a success. The company\u2019s strong fundamentals, robust demand for the IPO, and strong listing price suggest that the company is well-positioned for growth in the future. However, investors may consider to book profit in it once,\u201d she added<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: It\u2019s really a good morning for those who have subscribed to initial public offerings of Tata Technologies, and were lucky enough to have got the stock allocated against their name, as the Tata Group company on Thursday made its stock market debut with a bumper 140 per cent premium over its issue price. […]<\/p>\n","protected":false},"author":1,"featured_media":11232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-11231","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/11231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11231"}],"version-history":[{"count":1,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/11231\/revisions"}],"predecessor-version":[{"id":11233,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/11231\/revisions\/11233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/media\/11232"}],"wp:attachment":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}