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Buying was seen across investor categories, as the issue received bids for 6,04,26,120 shares by 10.48 am, which was 1.34 times the issue size of 4,50,29,207 shares.
Tata Tech IPO: Analysts advise investors to subscribe to the issue over fair pricing, strong brand presence and strong financials. "Considering the growth opportunities and strong fundamentals of Tata Tech, we recommend a Subscribe rating for this IPO," said Ventura.
The regulator along with Bombay Stock Exchange and National Stock Exchange has formed a working group to completely overhaul LODR (Listing Obligations and Disclosure Requirements) and ICDR (Issue of Capital and Disclosure Requirements), the sources added
Tata Technologies IPO | The Tata Motors subsidiary is looking to raise Rs 3,042.51 crore through the initial public offering, which is an offer for sale, at the upper price band of Rs 500
Following the Tata Tech IPO, Tata Motors' stake in Tata Tech will go down from 64.79% to 53.39%. At the upper price band, the manufacturing-focused engineering research and development company catering to the automotive industry has been valued at Rs 20,283 crore at a PE of 32.5x.