Tata Technologies' IPO Leads Record-Breaking Week in India

Investors bid for 69.43 times the shares on offer, signaling robust demand for the first Tata group IPO in nearly two decades.

Tata Technologies Ltd's initial public offering (IPO) saw a subscription of 69.43 times, attracting bids of ₹1.5 trillion ($18.74 billion), making it the most oversubscribed domestic IPO this week.
Other notable IPOs include Gandhar Oil Refinery (India) Ltd at 65.63 times and Flair Writing Industries Ltd at 49.28 times.
The strong demand for these IPOs is attributed to the ongoing rally in mid-cap and small-cap stocks in the secondary markets, the quality of the companies, and the moderate offer prices.
The IPOs are expected to list above their offer prices, indicating potential listing gains for investors.
India has seen a record 196 IPOs in 2023, signaling robust economic growth and investor interest.