Tata Technologies IPO Subscribed 69 Times, But Not Most-In-Demand Public Issue This Year

The much-awaited initial public offering of Tata Technologies Ltd. was subscribed around 60 times, but it was not the most-in-demand public issue this year.

The Rs 3,042 crore IPO of Tata Technologies, a first from the Tata stable in nearly two decades, was subscribed 69.37 times as of 4:30 pm on its final day.

In comparison, Plaza Wires, IdeaForge Technology and Utkarsh Small Finance Bank, with an issue size less than a fifth of Tata Technologies, received a subscription of over 100 times, the highest for the year.

SBFC Finance, ESAF Small Finance Bank and Senco Gold, with a smaller issue size, pipped the Tata firm by garnering subscriptions of 70 times, 73 times and 73.3 times, respectively.

Among the large issuances, the Tata company received the most bids, followed by JSW Infrastructure and the recently closed Indian Renewable Energy Development Agency.

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