Key Points
Three out of four share sales that opened on Wednesday were oversubscribed on the first day itself, a feat last seen 27 months ago, with high net-worth individuals (HNIs) and small retail investors leading the charge..
The initial public offering (IPO) of Tata Technologies Ltd, the first Tata group company to list after 19 years, attracted maximum investor interest, witnessing a subscription of 6.5 times..
Gandhar Oil Refinery (5.66 times) and Flair Writing Industries (2.3 times) also attracted substantial interest, while Fedbank Financial Services, a unit of Federal Bank, saw a relatively tepid response, with only 0.39 subscription on Day One. ..
The institutional book for Tata Tech was subscribed 4.08 times, with bids for 42.9 million shares against 10.5 million on offer; Gandhar Oil Refinery subscribed 1.35 times, with bids for 8.02 million shares against 5.93 million shares on offer; and Flair subscribed merely 0.53 times, with bids for 2.17 million shares against 4.12 million on offer..
The retail book for Tata Technologies was subscribed 5.4 times with 100 million shares being bid for against the 18 million on offer, Gandhar Oil Refinery subscribed 6.9 times with 74 million shares being bid for against the 10.7 million on offer, and Flair subscribed 2.87 times with 20.6 million shares being bid for against the 7.2 million on offer..
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