Investors make a beeline as five IPOs hit market; most oversubscribed

Most listings see oversubscription on Day One

Investors are flocking to the five initial public offerings (IPOs) that have hit the market. Most share sales have already experienced more demand than shares on offer, with cumulative bids totalling almost Rs 25,000 crore. The five maiden share sales together aim to mobilise Rs 7,377 crore in what will be the busiest week for IPOs in calendar year 2023.

The strongest demand is observed for Tata Technologies’ (Tata Tech’s) Rs 3,042 crore offering. The IPO, the first by a Tata Group firm in nearly two decades, was subscribed 6.55 times on Wednesday, the first day of the issue.

Gandhar