Tata Tech Makes Stellar Debut, m-cap Touches Rs. 53,315 Crore

Mumbai: Tata Technologies initial public offering made a bumper debut on bourses, as Rs.500-equity shares listed at 140 per cent premium at Rs.1,200 and gained further to a high of Rs.1,400 on both NSE and BSE.

The Tata Group’s first listing after almost two decades finally closed on the first day at Rs.1,314 on BSE gaining a whopping 162.85 per cent and at Rs.1,313 on NSE.

Tata Technologies market cap crossed Rs.50,000 crore on the very first day of trading and stood at Rs.53,314.99 crore at the market close.

Gandhar Oil’s equity shares of Rs.169 price listed at Rs.295.40, a premium of 74.79 per cent and touched a high of Rs.344. Gandhar Oil shares finally closed at Rs.301.50 gaining 78.40 per cent over the public issue price. Gandhar Oil’s market capitalisation stood at Rs.2,950.78 crore.

Third IPO of Fedbank Financial Services made a lackluster debut as Rs.140 equity shares listed  at Rs.137 and later gained day’s high of Rs.148 and low  of Rs.133.15 before the final  close at Rs.140, making a flat debut. Fedbank Financial’s market cap stood at Rs. 5,165.40 crore.