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At a 140% premium over the issue price of Rs 500, Tata Technologies' listing price of Rs 1,200 beat Street's estimates. While the stock was expected to double on the listing, it went far beyond, hitting the day's high of Rs 1,400 on the NSE or a 180% uptick over the upper IPO price band.
The Tata Tech listing was the best listing of 2023 and also the best since November 2021. However, overall till date, some stocks have performed better than this Tata Group stock in listing gains.
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The bumper listing comes amid broader euphoria in capital markets
Flair Writing Industries IPO | Citing the grey market price and the above reasons, Rajan Shinde, research analyst at Mehta Equities believes the healthy listing is justified