NEW DELHI: The Rs 3,042.5 crore initial public offer of Tata Technologies was subscribed 69.43 times on the final day of subscription on Friday, driven by remarkable participation from institutional buyers.
The initial share sale received bids for 3,12,64,91,040 shares against 4,50,29,207 shares on offer, as per NSE data. The category for qualified institutional buyers was subscribed a mammoth 203.41 times, while the part meant for non-institutional investors attracted 62.11 times subscription. The quota for retail individual investors was subscribed 16.50 times.
The public issue had a price band of Rs 475-500 per share.
Tata Technologies’ public issue was entirely an Offer For Sale of 6.08 cr equity shares. Under the OFS, Tata Motors offloaded 4.63 crore shares, representing an 11.4 pc stake.