Tata Technologies made a resounding entry into the market today, marking a robust debut on the bourses as its shares concluded the listing day with an impressive performance. Closing at ₹1,327 on the National Stock Exchange (NSE) and ₹1,326.25 on the Bombay Stock Exchange (BSE), the stock presented a significant premium of 165.4 percent and 165.25 percent respectively compared to its Initial Public Offering (IPO) price of ₹500.
The stock commenced trading at ₹1,200 on both NSE and BSE, soaring with a premium of 140 percent over the IPO price. During the day’s trading, it reached an intra-day high of ₹1,400, flaunting an impressive premium of 180 percent.
Tata Group’s first IPO in nearly two decades witnessed an overwhelming response from investors, with the issue being subscribed over 69 times by the final bidding day. Market analysts had foreseen an exceptional market debut and had projected Tata Technologies’ shares to open at more than a 75 percent premium against its IPO price of ₹500 per equity share.
The IPO, which amassed ₹3,042.51 crore, was open for subscription from November 22 to November 24, with a price band ranging between ₹475 to ₹500 per share.
The IPO comprised a complete offer for sale (OFS) of 6.09 crore equity shares, with Tata Motors, the promoter, selling 4.62 crore equity shares valued at ₹2,313.75 crore in the OFS. Additionally, investors Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I divested 97.17 lakh shares and 48.58 lakh shares respectively in the Tata Technologies IPO.
Tata Technologies, a subsidiary of Tata Motors, is a dedicated Engineering Research & Development (ER&D) company centered predominantly on the automotive industry.
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