Tata Technologies, a Tata Motors subsidiary, witnessed swift demand as its Rs 3,042.5 crore Initial Public Offering (IPO) was fully subscribed within minutes of opening. This marks the first IPO from the Tata Group in almost two decades. The IPO, solely an offer-for-sale, saw bids for 1.94 times the available shares by mid-morning. Non-institutional investors oversubscribed 2.72 times, while Qualified Institutional Buyers (QIBs) subscribed 1.98 times. Retail Individual Investors (RIIs) subscribed 1.63 times. The IPO, with a price band of Rs 475-500 per share, is open for subscription until November 24. The offering signifies Tata Group’s return to the IPO market after 2004.
Tata Technologies IPO Fully Subscribed Within Minutes, Marks Tata Group’s Return to Public Offerings
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