Tata Technologies share price: Tata Technologies lists at 1,200, a 140% premium to IPO price | India Business News

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MUMBAI: Applicants within the Rs 3,043-crore Tata Technologies maiden providing, who bought shares of the corporate at Rs 500 apiece, noticed their holding bounce greater than 2.5 occasions on Thursday. The inventory listed at Rs 1,200, touched a excessive at Rs 1,400 and closed the day at Rs 1,314 – up 163% or 2.6 occasions the IPO price.
Two different firms – Gandhar Oil Refinery and Fedbank Financial Services – additionally listed on the identical day.Gandhar Oil listed at Rs 295, a 75%premium over its IPO price of Rs 169, and closed at Rs 302. Fedbank Financial, alternatively, noticed a muted itemizing, with the inventory barely modified from its IPO price of Rs 138 on its inventory market debut. It closed at Rs 145 – simply a 2% premium to the provide price.

Last week, when these three firms had closed their bidding rounds for the IPO, Tata Tech‘s provide was subscribed 69 occasions, Gandhar Oil’s 64 occasions and Fedbank Financial’s 2.2 occasions. In the run up to the itemizing of those shares on Thursday, the gray market premium – the markup over the inventory’s IPO price to its itemizing price – additionally had risen considerably.
The debut day surge in Tata Tech gave it a market capitalisation of Rs 53,315 crore, placing it at the ninth place amongst all Tata Group firms. The IPO was the primary by a Tata Group firm in almost 20 years and noticed very robust investor response, market gamers mentioned.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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