Tata Technologies IPO
Tata Technologies Limited (TATATECH) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 November 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +36.8% (likely range +21% to +57%), day's high +47.0%, chance of a gain 92%. Actual: +140.0% at the open, +180.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,05,47,382 | 2,14,53,93,930 | 203x | |
| NII (HNI) total | 79,10,537 | 49,13,23,830 | 62.1x | |
| Big NII (above ₹10 lakh) | 52,73,691 | 37,27,14,120 | 70.7x | |
| Small NII (₹2-10 lakh) | 26,36,846 | 11,86,09,710 | 45.0x | |
| Retail | 1,84,57,919 | 30,46,16,550 | 16.5x | |
| Employees | 20,28,342 | 75,02,010 | 3.70x | |
| Shareholders | 60,85,027 | 17,76,55,920 | 29.2x | |
| Total | 4,50,29,207 | 3,12,64,92,240 | 69.4x |
Bids on NSE and BSE together, as published by NSE, as of 24 Nov 2023, 07:00 PM. Shares offered exclude the anchor portion. 13% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Tata Technologies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| SBFC FinanceAug 2023 | 193x | 49.1x | 11.0x | 70.2x | ₹1,082 Cr | +43.9% | +67.5% |
| Harsha Engineers InternationalSep 2022 | 178x | 71.3x | 17.6x | 74.7x | ₹794 Cr | +36.4% | +59.9% |
| IKIO LightingJun 2023 | 164x | 63.4x | 13.9x | 66.3x | ₹615 Cr | +37.7% | +50.0% |
| Netweb Technologies IndiaJul 2023 | 229x | 81.8x | 19.2x | 90.4x | ₹625 Cr | +89.4% | +90.4% |
| Senco GoldJul 2023 | 181x | 65.0x | 15.5x | 73.4x | ₹427 Cr | +35.6% | +40.1% |
| Jupiter Life Line HospitalsSep 2023 | 187x | 34.8x | 7.73x | 63.7x | ₹886 Cr | +32.4% | +50.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| BoFA Securities | 18 | +30.6% | 72% |
Offer documents (NSE)
Frequently asked
What is the Tata Technologies IPO price band and lot size? ₹475–500 per share, with a lot of 30 shares, so the smallest retail bid is ₹15,000.
How many times has it been subscribed? 69.4x overall: QIB 203x, NII 62.1x, retail 16.5x, employees 3.70x.
How did it list? It opened at ₹1,200, +140.0% against the issue price of ₹500, and closed its first day +162.6%.
