Tata Technologies shares listed with a jump of 140 percent from the issue price
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Shares of Tata Group’s engineering company Tata Technologies were listed on Thursday with a 140 per cent jump from the issue price of Rs 500. The shares were listed at Rs 1,199.95 on BSE, a jump of 139.99 per cent from the issue price.
On the NSE, they started at Rs 1,200 with a rise of 140 percent and later their price increased to Rs 1,400. The market valuation of the company in early trade stood at Rs 52,939.74 crore.
The company’s initial public offering (IPO) was subscribed 69.43 times on Friday, the last day of the issue. Last Wednesday, Tata Technologies’ issue was fully subscribed within minutes of opening.
For this, the price range of Rs 475-500 per share was fixed. It was the first Tata group company to launch an initial public offering (IPO) in nearly two decades. Earlier, Tata Consultancy Services had launched an IPO in 2004, which was the last IPO of any group company.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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