Tata Technologies IPO closes with bids worth ₹1.56 lakh crore; top highlight

Tata Group saw a huge success with its first initial public offering in the last 20 years – Tata Technologies IPO – with the three-day issue closing on Friday evening with overall subscriptions of nearly 70 times.

As of 5pm on Friday, November 24, Tata Technologies IPO saw total bids worth ₹1.56 lakh crore, while the issue size of the initial public offering remains ₹2,200 crore, without the anchor portion. Seeing tremendous success in its first IPO in 20 years, this paves the way for Tata Group to launch more issues in the near future.

The Tata Technologies IPO opened on November 22 and closed on November 24, with the portion reserved for Qualified Institutional Bidders (QIB) subscribing 203.41 times. Meanwhile, the portion reserved for Non Institutional Bidders was subscribed 62.11 times by the investors.