Rakuten on December 2
Tata Technologies has raised Rs 3,040 crore (Rs.3.) in India$6.5 billion), which is 69 times oversubscribed.
Tata Technology had a maximum of Rs.1,400 on the first day, 180% of the issue price of Rs.500***Price is Rs 1,313 and still **1626%。The company's market capitalization is more than $6 billion at the first day's price.
India's booming ** has sparked a frenzy for new listings.
Tata Technologies, a subsidiary of Tata Motors, provides engineering and technical services, product development and digital solutions to automotive, aerospace and heavy machinery manufacturers. About 70% of Tata Technology's sales come from its core automotive business, with major automotive customers including Tata Motors, Jaguar Land Rover and Vietnam's Vinfast.
Speaking at the listing ceremony in Mumbai, Tata Technologies CEO Warren Harris said: "This IPO opens up new growth opportunities and deepens our understanding of how we intend to leverage capital market support in the future. ”
Tata Technologies' current valuation has surpassed that of its peers KPIT Technologies, L&T Technology Services and Tata Elxsi, a Tata Group company, which are valued at between Rs 4,09 billion and Rs 52,400 crore.
India has seen a record 196 IPOs so far in 2023, with the benchmark points continuing to hit new highs thanks to an improved economic growth outlook and a large consumer base.
Lei Di was founded by ** Lei Jianping, if ** please in**.