Top highlights from Tata Technologies' IPO, which closed with bids totaling ₹1.56 lakh crore

 Top highlights from Tata Technologies' IPO, which closed with bids totaling ₹1.56 lakh crore

The much-awaited Tata Technologies initial public offering (IPO) ended on Friday evening with a record-breaking 70 times bids totaling ₹1.56 lakh crore, exceeding the largest IPO in the nation.

With a total subscription of over 70 times, the three-day Tata Technologies IPO completed on Friday evening, marking the Tata Group's first successful initial public offering in the previous 20 years.

Bids for the Tata Technologies IPO reached ₹1.56 lakh crore as of Friday, November 24, at 5 PM. The issue amount of the IPO, excluding the anchor part, is still ₹2,200 crore. The Tata Group will be able to issue additional shares in the near future thanks to the great success of its first initial public offering (IPO) in 20 years.

The initial public offering (IPO) of Tata Technologies was subscribed 203.41 times for the amount designated for qualified institutional bidders (QIBs) when it began on November 22 and ended on November 24. Investors subscribed 62.11 times to the part set aside for non-institutional bidders in the meanwhile.

Not far behind in the offering were shareholders of Tata Motors, retail investors, and employees of Tata Technologies, who subscribed 16.50 times, 3.7 times, and 29.2 times, respectively. For these consumers, there was a 35 percent reserve in the net issue.

Prices for Tata Technologies' IPO and further information

With no fresh issue component, Tata Technologies' IPO started on November 22 in the price range of ₹475–₹500. In the IPO, investors Alpha TC Holdings and Tata Capital Growth Fund 1 along with promoter Tata Motors made an offer for sale (OFS) of 6.08 crore shares.

Based on the highest end of the pricing range, the expected amount of the first public offering (IPO) is ₹2,890-3,042 crore. In the meanwhile, the company's market capitalization is estimated to be ₹20,283 crore.

Instead of raising money for the business, the Tata Technologies IPO sought money to reimburse investors for the sale of their firm equity. In spite of this, IPOs continued to be among the most well-liked offerings of the year because of their robust valuations and sound financial standing.