Monday, November 25, 2024

Tata Tech lists at 1,200, a 140% premium to IPO price

Thursday, November 30, 2023, 23:41
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Applicants in the Rs 3,043-crore Tata Technologies maiden offering, who got shares of the company at Rs 500 apiece, saw their holding jump more than 2.5 times on Thursday. The stock listed at Rs 1,200, touched a high at Rs 1,400 and closed the day at Rs 1,314 – up 163% or 2.6 times the IPO price. Two other companies – Gandhar Oil Refinery and Fedbank Financial Services – also listed on the same day. Gandhar Oil listed at Rs 295, a 75% premium over its IPO price of Rs 169, and closed at Rs 302.

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