Tata Technologies Share Price: Tata Technologies made a robust entry into the stock market today with a remarkable performance on both the NSE and BSE. The NSE saw Tata Technologies’ shares debut at ₹1,200 per share, marking a significant surge of 140% from the issue price of ₹500. Meanwhile, on the BSE, Tata Technologies shares opened at ₹1,199.95 each.
This debut positions Tata Tech as the most successful listing since November 2021, joining the ranks of Paras Defence, Chemcon Specialty, Happiest Minds, GR Infra, Route Mobile, Avenue Supermarts, and IRCTC, all of which registered over a 100 percent premium at their listing.
Market analysts had anticipated this substantial premium owing to the prevailing market optimism, contributing to the advantages of the public issue. Forecasts suggest considerable trading activity in Tata Technologies’ share price post-listing, potentially reaching levels of ₹1,000 per share on the very listing day.
The Tata Technologies IPO subscription window was open from November 22 to November 24, with a price band set between ₹475 to ₹500 per equity share of face value ₹2. The lot size stood at 30 equity shares, with multiples available thereafter. The IPO allotment was finalized on November 29.
The IPO is expected to raise ₹3,042.51 crore at the upper end of the price band, offering up to 60,850,278 equity shares for cash through an Offer For Sale (OFS). This includes shares from the company, Alpha TC Holdings Pte. Ltd., and Tata Capital Growth Fund I, representing various percentages of the paid-up equity share capital of Tata Technologies Limited.
The primary objectives of the IPO are to facilitate the selling shareholders’ offer and leverage the advantages of listing the equity shares on stock exchanges. Additionally, the company anticipates enhanced brand recognition, visibility, and access to the Indian public market for its equity shares.
The book running lead managers for Tata Technologies IPO are JM Financial Limited, Citigroup Global Markets India Private Limited, and Bofa Securities India Limited, with Link Intime India Private Ltd. serving as the issue’s registrar.
During the bidding period, the Tata Tech IPO saw robust subscription levels, with the final day recording an overall subscription of 69.43 times. Retail investors subscribed 16.50 times, Non-Institutional Investors (NII) portion reached 62.11 times, and Qualified Institutional Buyers (QIB) portion hit an impressive 203.41 times. The employee and shareholder portions were also subscribed at 3.70 and 29.19 times, respectively.
As per the Grey Market Premium (GMP) trends, today’s GMP stands at +400, indicating a ₹400 premium on Tata Technologies’ share price in the grey market. Considering this and the upper end of the IPO price band, experts suggest an estimated listing price of ₹900 apiece, an 80% surge from the IPO price of ₹500.
Based on recent grey market activities, the GMP signals an upward trend, portraying a strong listing for Tata Technologies. Analysts note that the GMP has fluctuated between ₹240 and ₹425 across the last 45 sessions, showcasing investors’ willingness to pay above the issue price.