Mr. Warren Harris (CEO & MD, Tata Technologies Ltd.) and Mr. Subhash Kelkar (Chief Information Officer, BSE) (centre) ring the gong in the presence of (L-R) Tata Technologies Ltd. Management, Mr PB Balaji (Non-Executive Director), Mr. Ajoyendra Mukherjee (Chairman & Independent Director), Mr. Shailesh Chandra (Non-Executive Director) and Ms. Savitha Balachandran (Chief Financial Officer) during the listing ceremony of Tata Technologies Ltd. at BSE.
Tata Technologies Limited management Mr. Warren Harris (CEO & MD) and Mr. Ajoyendra Mukherjee (Chairman & Independent Director) presents memento to Mr. Subhash Kelkar (Chief Information Officer, BSE) during the listing ceremony of Tata Technologies Ltd. at BSE.
(L-R): Mr. Subhash Kelkar (Chief Information Officer, BSE) with Tata Technologies Limited management Mr. Shailesh Chandra (Non-Executive Director), Mr. Nagaraj Ijari (Independent Non-Executive Director), Mr. Ajoyendra Mukherjee (Chairman & Independent Director), Mr PB Balaji (Non-Executive Director), Ms. Savitha Balachandran (Chief Financial Officer), Ms. Aarthi Sivanandh (Independent Non-Executive Director), and Mr. Warren Harris (CEO & MD) at the lamp lightening ceremony during the listing ceremony of Tata Technologies Ltd.
MUMBAI, 30 NOVEMBER, 2023 (GPN): Tata Technologies made a stellar debut, at a 140 percent premium and then rising nearly three-fold the IPO price. Ringing a remarkable success in the listing at the exchanges today. The stock opened at Rs 1,200 on the NSE and at Rs 1,199.95 on the BSE, while its issue price was Rs 500. It jumped 180 percent over the IPO price to Rs 1,400 within minutes.
Given the growth potential in outsourcing, analysts expect the company’s business model to remain in great demand going forward. Analysts recommend investors to hold the stock for the long term, and for those who failed to get allotment to accumulate on dips.
The IPO received an overwhelming response from investors with a subscription rate of nearly 70 times at close. The first Tata Group IPO in two decades garnered bids worth Rs 1.56 lakh crore for an offer size of just over Rs 3,000 crore.
“As expected, a mega listing above our expectations respects the legacy of the Tata brand. After witnessing a remarkable subscription demand Tata Technologies garnered significant attention in the stock market among the five IPOs. Considering overwhelming investors’ demand along with investor-friendly pricing indicate Tata Group’s legacy to reward shareholders,” said Prashanth Tapse, research analyst and senior vice-president of research at Mehta Equities.Ends
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