[ad_1]
New Delhi: Tata Technologies made a stellar listing on the Indian stock market on Thursday, in line with expectations from market and experts. Shares of Tata Technologies listed with a bumper premium of 140 per cent, against the issue price of Rs 500.
Tata Technologies shares listed at Rs 1,199.95, registering a sharp jump of 139.99 per cent from the issue price of Rs 500 on the BSE, further zooming 180 percent to Rs 1,400. At the NSE, the scrip traded at Rs 1,200, surging 140 percent. The stock later zoomed to Rs 1,400. The company’s market valuation stood at Rs 52,939.74 crore during the morning trade.
At 12:43 PM, shares of Tata Technologies was trading at Rs 1,341.00 apiece, higher by Rs 841.00 or 168.20 percent.
“Pursuant to Regulation 30 of the SEBI LODR Regulations and further to our intimation vide letters bearing sc nos. 17057, 17287, 17914 and 17935 dated December 12, 2022, March 9, 2023, November 13, 2023 and November 25, 2023, respectively, in relation to the IPO of Tata Technologies Limited, we wish to inform you that the Company has been informed by Tata Technologies Limited, that on November 28, 2023, it has approved transfer of 60,850,278 Equity Shares to various investors who successfully subscribed in the IPO, of which 46,275,000 Equity Shares were offered for sale by the Company, 9,716,853 Equity Shares were offered for sale by Alpha TC Holdings Pte. Ltd. and 4,858,425 Equity Shares were offered for sale by Tata Capital Growth Fund I,” Tata Motors said in a regulatory filing on November 29.
As a result of the above, the Company’s shareholding in Tata Technologies Limited stands reduced from 64.79% to 53.39% (i.e., from 262,844,816 to 216,569,816 Equity Shares), of the issued and paidup Equity Share capital of Tata Technologies Limited, it added.
The Rs 3,042.5 crore IPO 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.
[ad_2]
Source link
