Tata Technology IPO received 69.43 times subscription, with the quota reserved for qualified institutional buyers (QIBs) getting booked a record 203.41 times.
The stock listed at Rs 50, up 56.25 per cent from the issue price on both the BSE and NSE. It further rallied 74 per cent to Rs 55.70 on both the benchmark indices.
The shares are expected to be listed on NSE Emerge around December 13. First Overseas Capital is the bookrunner, while Kfin Technologies serves as the registrar.
The IPO, which witnessed a remarkable subscription rate of nearly 70 times, awaits finalisation of the basis of allotment by November 28. While raising over Rs. 3045 crore, it's crucial to note that this was through an offer-for-sale, with no capital infusion for the company.
The Rs 3,042.5 crore initial public offer of Tata Technologies, which provides engineering and product development digital services, was subscribed 69.43 times on the final day of subscription on Friday, driven by remarkable participation from institutional buyers.
The small-cap IT stock has said that its consolidated net profit increased by more than 140 per cent on a year-on-year (YoY) basis to Rs 4.52 crore for the first six months (April to September) of the financial year 2023-24.
Onboard chargers for electric vehicles are designed to be compact and lightweight, intended for direct mounting on two-, three-, and four-wheelers, eliminating the need for a separate charging unit.
The financial results exhibit remarkable profitability. In the last year, the profit growth stood at 4,580 per cent, indicating not just an increase in revenue but also converting it into profit. In Q2, the profit before tax showed a growth of more than 15 per cent to reach Rs 23.3 crore.
According to a PTI report, the paper industry's total volume in the current financial year is expected to rise 5-7 per cent, similar to the last fiscal. The operating margin will likely remain healthy at 18 to 19 per cent.
The government has launched several initiatives to promote the growth of the packaging industry, including the establishment of packaging parks and more.
Byju's news: According to TechCrunch, Byju’s will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed Initial Public Offering (IPO) and pressure from lenders.
NSE Emerge is an initiative by the National Stock Exchange for small and medium-sized enterprises and startup companies in the country.
This was the first quarterly result by HMA Agro after it made debut on the exchanges. Its shares made debut on exchanged in July. IT had raised Rs 480 crore from the initial public offering (IPO).
The shares of the company will be listed on NSE Emerge, a platform for small and medium enterprises, the company said in a statement.
The Small Finance Bank (SFB) IPO, which has its headquarters in Varanasi, will open for public subscription on July 12 through July 14. The lender announced that bidding for anchor investors will begin on July 11.
The Gujarat-based firm, which is into recycling of waste tyres, plans to offer up to 76 lakh equity shares through the book-building process.
The IPO has witnessed a significant jump in its Grey Market Premium (GMP), which currently stands at Rs 25 per share, indicating a positive market sentiment towards the issue.
The category for non-institutional investors received 2.97 times subscription, while the portion for Qualified Institutional Buyers (QIBs) was subscribed 1.74 times and Retail Individual Investors' (RIIs) 96 per cent.
The total size of the public issue is 22. 80 lakh shares. The IPO aims to raise Rs 54. 04 crore. The issue comprises of fresh issue of 14. 80 lakh equity shares amounting to Rs 35. 08 crore and an offer for sale (OFS) of up to 8 lakh shares worth Rs 18.96 crore.
The frozen meat exporter company's share sale offer comprises a fresh issue of more than 25 lakh fresh shares. It has an Offer for Sale (OFS) component of over 56 lakh shares.
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