BENGALURU: Tata Applied sciences‘ much-awaited preliminary public providing (IPO) was oversubscribed inside hours after bidding opened on Wednesday, signaling sturdy demand for the Tata Group’s first public float in practically 20 years.
On the high finish of worth band of Rs 475-500 , the corporate fetched bids value Rs 55.23 billion ($663.47 million), as of Wednesday afternoon.
Traders oversubscribed the IPO by 2.45 instances as they bid for greater than 110.4 million shares in contrast with the 45 million shares on provide, information from the inventory alternate confirmed.
On the high finish of worth band of Rs 475-500 , the corporate fetched bids value Rs 55.23 billion ($663.47 million), as of Wednesday afternoon.
Traders oversubscribed the IPO by 2.45 instances as they bid for greater than 110.4 million shares in contrast with the 45 million shares on provide, information from the inventory alternate confirmed.
