Tata Technologies IPO LIVE Updates: Issue opens today. Check GMP, subscription status on day 1, other key details
₹475 to ₹500 per equity share of face value of ₹2. At the upper end of the price band, Tata Tech IPO is expected to raise ₹3,042.51 crore.
This IPO is an Offer For Sale (OFS) of up to 60,850,278 equity shares.Tata Technologies IPO price band has been fixed in the range of ₹475 to ₹500 per equity share with a face value of ₹2. The floor price is 237.50 times the face value of the equity shares, and the cap price is 250 times.
The price-to-earnings ratio based on diluted EPS for financial year 2023 at the cap price is as high as 32.53 times and at the floor price, 30.90 times.Tata Tech IPO raised ₹791 crore from 67 anchor investors at the upper price band of ₹500, with a face value of ₹2, for each equity share. There was a good balance of domestic and foreign names in the anchor book.
On the anchor day, investments were made by top mutual funds like Aditya Birla MF, Nippon MF, Sundaram MF, Mirae MF, Edelweiss MF, and Canara Robeco MF as well as top foreign investors like Fidelity Funds, Government Pension Fund Global, and Goldman Sachs.Out of the total allocation of 15,821,071 equity shares to the anchor investors, 7,099,980 equity shares (i.e. 44.88% of the total allocation to the Anchor Investors) were allocated to 17 domestic mutual funds have applied through a total of 39 schemes.Tata Tech IPO GMP, or grey market premium, is +355.
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