MUMBAI, INDIA — Tata Technologies Ltd., a distinguished member of the esteemed Tata Group, marked an extraordinary entry into the stock market today, with its shares unveiling a striking 140% premium on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This stellar debut propelled the company’s market valuation to an impressive ₹48,678.20 crore on its inaugural trading day. The initial public offering (IPO) of the global engineering services provider, catering to renowned original equipment manufacturers (OEMs) and tier-I suppliers, had previously attracted substantial interest across diverse investor segments.
The IPO, held from November 22-24, had a price range of ₹475-500 per share. The primary objective was to secure ₹3,042.51 crore (INR 100 crore ≈ USD 12 million) through an offer for sale by promoters and shareholders. The institutional response was robust, with subscriptions from this segment totaling an astounding 203 times the shares available to them. Retail investors also displayed unwavering enthusiasm, subscribing 16.50 times the allocated portion, while non-institutional investors subscribed 62.11 times their reserved segment.
The meticulously orchestrated IPO was shepherded by a consortium of financial powerhouses, including JM Financial, Citigroup Global Markets India, and BofA Securities India. Link Intime India took charge of managing the registration processes. Ahead of the listing, Tata Technologies’ shares were in high demand in the grey market, trading at a premium of ₹425.
Tata Technologies’ remarkable market debut underscores the confidence instilled by both institutional and retail investors, reflecting positively on the company’s growth trajectory in the highly competitive engineering services sector.
