Tata Technologies made its stock market debut and experienced a significant surge in its share price. The company’s initial public offering (IPO) listed at Rs 1,200, a significant premium of 140% over its IPO price of Rs 500. Throughout the trading day, the stock reached a high of Rs 1,400 before closing at Rs 1,314. This remarkable jump in share price resulted in Tata Technologies having a market capitalization of Rs 53,315 crore and ranking it among the top ten Tata Group companies.

Additionally, two other companies – Gandhar Oil Refinery and Fedbank Financial Services – also made their market debut on the same day. Gandhar Oil listed at Rs 295, a 75% premium over its IPO price of Rs 169, and closed at Rs 302. Meanwhile, Fedbank Financial had a more modest debut, with its stock barely changing from its IPO price of Rs 138. It closed at Rs 145, representing a meager 2% premium to the offer price.

Prior to the listing, Tata Technologies’ IPO received overwhelming investor interest. The offer was subscribed 69 times, Gandhar Oil’s offer 64 times, and Fedbank Financial’s offer 2.2 times. This strong response in the IPO market also translated into a substantial increase in the grey market premium.

Tata Technologies’ successful IPO has positioned it as the ninth-largest Tata Group company, with a market capitalization of Rs 53,315 crore. This IPO marks the first by a Tata Group company in nearly 20 years and demonstrates the strong investor confidence in the company’s prospects.