BENGALURU: Tata Technologies‘ much-awaited initial public offering (IPO) was oversubscribed within hours after bidding opened on Wednesday, signaling strong demand for the Tata Group’s first public float in nearly two decades.
At the top end of price band of Rs 475-500 , the company fetched bids worth Rs 55.23 billion ($663.47 million), as of Wednesday afternoon.
Investors oversubscribed the IPO by 2.45 times as they bid for more than 110.4 million shares compared with the 45 million shares on offer, data from the stock exchange showed.
At the top end of price band of Rs 475-500 , the company fetched bids worth Rs 55.23 billion ($663.47 million), as of Wednesday afternoon.
Investors oversubscribed the IPO by 2.45 times as they bid for more than 110.4 million shares compared with the 45 million shares on offer, data from the stock exchange showed.