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Published: November 28, 2023
Updated: November 28, 2023

Tata Technologies IPO Sets Records with Overwhelming Demand

Day 3 Highlights: Issue Subscribed Over 69 Times; Retail Portion Booms 16.50x

In a staggering display of investor enthusiasm, Tata Technologies IPO witnessed an astounding subscription rate, reaching over 69 times by the end of the final day of bidding on November 24. The IPO, with a price band of ₹475 to ₹500 per equity share, is poised to raise a substantial ₹3,042.51 crore at the upper end.

Subscription Breakdown

Retail Frenzy:

Retail investors showcased remarkable interest, subscribing 16.50 times, reflecting a strong retail appetite for Tata Technologies shares.

Institutional Participation:

The Non-Institutional Investors (NII) portion saw a robust subscription of 62.11 times, while the Qualified Institutional Buyers (QIB) portion reached an impressive 203.41 times.

Employee and Shareholder Support:

The employee portion recorded a subscription of 3.70 times, and the segment reserved for shareholders was booked 29.19 times.

Overall Bidding Statistics

Bids flooded in for a total of 3,12,64,91,340 shares against the available 4,50,29,207 shares, underscoring the IPO's monumental popularity.

Journey of Overwhelming Response

From the opening on November 22 to the closing on November 24, Tata Technologies IPO witnessed an escalating demand, starting with a subscription status of 6.55 times on Day 1, which surged to 14.85 times on Day 2, culminating in an unprecedented 69.43 times on the final day.

Record-Breaking Application Numbers

Tata Technologies IPO has etched its name in history by attracting the highest number of applications among private sector companies. With a staggering 50.6 lakh applications within just two days, it has surpassed the application numbers of major players like Zomato, Reliance Power, Nykaa (FSN E-Commerce Ventures), and others.

A Resounding Success

The Tata Technologies IPO has not only set records with its overwhelming subscription numbers but has also garnered attention as the most-awaited IPO of the year. The resounding success reflects the market's confidence in Tata Technologies' prospects, marking a milestone in the company's journey to the public market.