Tata Technologies' IPO raised Rs 3,040 crore ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled
As per grey market operators, Tata Tech shares could gain over 80 per cent, while that of Gandhar are pegged to gain 40 per cent on debut
Tata Tech IPO: The shares of Tata Technologies will likely be listed on the bourses (BSE & NSE) on November 30
Tata Technologies IPO subscription: It was subscribed 69.43 times as of the final day of subscription on November 24, driven by high participation from institutional buyers
Third party reports and comments can affect markets and shake investor confidence
The Chinese retail giant, now headquartered in Singapore, is estimated to be valued over $60 billion
IPO garnered bids worth Rs 1.56 trillion
The Rs 3,042.5 crore initial public offer of Tata Technologies, which provides engineering and product development digital services, was subscribed 69.43 times on the final day of subscription on Friday, driven by remarkable participation from institutional buyers. This is the first company from the Tata Group to float an initial public offer (IPO) in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004. The initial share sale received bids for 3,12,64,91,040 shares against 4,50,29,207 shares on offer, as per NSE data. The category for qualified institutional buyers (QIBs) was subscribed a mammoth 203.41 times, while the part meant for non-institutional investors attracted 62.11 times subscription. The quota for retail individual investors (RIIs) was subscribed 16.50 times. The IPO of Tata Technologies was fully subscribed within minutes of opening for bidding on Wednesday. Tata Technologies, an arm of Tata Motors, on Tuesday said it has collected
Some believe the secondary market performance could be subdued in the immediate term as the five IPOs are expected to block liquidity until mid next week
The Initial Public Offer (IPO) of Tata Technologies, which provides engineering and product development digital services, was fully subscribed within minutes of opening for subscription on Wednesday. The Rs 3,042.5 crore IPO received bid for 8,73,22,890 shares against 4,50,29,207 shares on offer, translating into 1.94 times subscription as per NSE data till 11:21 hrs. The category for non-institutional investors was subscribed 2.72 times while the quota for Qualified Institutional Buyers (QIBs) received 1.98 times subscription. The portion for Retail Individual Investors (RIIs) got subscribed 1.63 times. Tata Technologies, an arm of Tata Motors, on Tuesday said it has collected Rs 791 crore from anchor investors. This is the first company from Tata Group to float an initial public offer in nearly two decades. Tata Consultancy Services was the last IPO from the group in the year 2004. The public issue, with a price band of Rs 475-500 per share, will conclude on November 24. Tata .
Busiest week for IPOs this year; Tata Tech to be largest offering of the lot
Pen maker Flair Writing Industries Ltd has set a price band of Rs 288-304 a share for its Rs 593-crore initial public offering (IPO), market sources said on Friday. The maiden public issue will open for subscription on November 22 and conclude on November 24 and the anchor book of the offer will be opened for a day on November 21, they added. As per the red herring prospectus (RHP), Flair Writing's IPO comprises a fresh issue of equity shares aggregating up to Rs 292 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities. At present, promoters and promoter group entities own 100 per cent stake in the company. Proceeds of the fresh issue will be used for setting up a manufacturing facility for writing instruments at Valsad district in Gujarat; funding the company's capital expenditure and subsidiary Flair Writing Equipments Pvt Ltd (FWEPL). Besides, the proceeds will be used to support the working capital requirements of
Apart from its anchor clients Tata Motors and Jaguar Land Rover, the company served other global biggies such as Airbus, Ford, McLaren, Honda, and Cooper Standard
Those were the days of the Harshad Mehta scam. IPOs were oversubscribed by a large margin and getting allotment was like winning a lottery
The maiden public issue will open for public subscription on November 22 and conclude on November 24. The anchor book of the offer will be opened for a day on November 21
According to reports, the price is about about 47 per cent lower than its price in the unlisted market where the stock currently trades at Rs 950 per share
Investment giant hopes to rake in handsome returns
Market players say the record number of SME IPOs this year has been fuelled by retail euphoria underpinned by encouraging post-listing performance
WeWork's collapse into bankruptcy is the culmination of a years-long saga for the company, which was once the biggest office tenant in Manhattan
Many on the Street had raised concerns over Honasa's valuation and profitability track record