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India's Tata Technologies IPO oversubscribed within hours of first day of bids

Reuters · 1y

India's Tata Technologies' initial public offering (IPO) has been oversubscribed within hours of bidding, indicating strong demand for the Tata Group's first public float in almost two decades. The IPO, priced between 475-500 rupees, has received bids worth 55.23 billion rupees ($663.47 million) as of Wednesday afternoon, surpassing the 45 million shares on offer. Investors have bid for more than 110.4 million shares, oversubscribing the IPO by 2.45 times.