Key Points
This overtook the previous record held by state-owned Life Insurance Corporation of India, which received 7.34 million applications last year.iStock..
Mumbai: One of the busiest weeks for India's initial public offer (IPO) market ended on a euphoric note with investors pouring an unprecedented 2.6 lakh crore into five issues that aimed to collect 7,380 crore...
The largest of these IPOs, that of Tata Technologies, attracted more than 7.36 million applications, the highest in Indian primary market history..
Tata Technologies, marking the first public issue from the Tata Group in the last two decades, had a subscription of over 69 times, creating a significant demand of 1.57 lakh crore against the issue size of 3,043 crore..
Bankers suggest that subdued conditions in the secondary market, coupled with significant liquidity as investors hold onto cash in anticipation of a market decline, may have contributed to the substantial demand for public issues...
You might be interested in
Diwali Bumper: A dozen IPOs set to light up Dalal Street soon
26, Oct, 23While Cello World and Blue Jet Healthcare have already announced their IPO dates, companies such as Tata Technologies, Mamaearth, ASK Automotive, Protean eGov Technologies, Fedbank Financial Services, ESAF Small Finance Bank, Flair Writing Industries and Credo Brands Marketing, among others, are in the pipeline.
IPO blitz sets stage for listing day gains
24, Nov, 23Market veterans attributed the strong demand to the ongoing rally in mid-cap and small-cap stocks in the secondary markets, the quality of the companies, and the moderate offer prices.
Tata Technologies likely to launch IPO in mid-November, GMP soars
17, Oct, 23In anticipation of the issue launch, the company's shares are in high demand in the grey market. The stock is fetching a premium of about Rs 280 in the unlisted market. Tata Technologies was last valued at around Rs 16,300 crore ($2 billion). The issue size isn't disclosed yet, but based on the valuations, analysts believe the offering could be anywhere between Rs 3,800-4,000 crore.
Primary market on a roll next week as Rs 7,300 crore worth IPOs on sale!
18, Nov, 23The biggest among the five is Tata Technologies Ltd, which plans to raise Rs 3,040 crore through an initial public offering of shares. The second on the list is Mini Ratna company Indian Renewable Energy Development Agency Ltd, and the government is looking at raising Rs 2,150 crore through this public offer.
IPO Calendar: Bharti Hexacom's Rs 4200 cr IPO, 10 listings to kick-off primary market activity in FY25
30, Mar, 24Kicking off the IPO market in FY25 is the mega Bharti Hexacom public offer, the sole issue next week, which plans to raise around Rs 4,275 crore. The issue opens for subscription on April 3 and closes on April 5.