The scrip was listed at Rs 1,199.95, exhibiting a premium of 140% to the issue price.

So far, the stock has hit a high of 1,400 and a low of 1199.95. On the BSE, over 17.53 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Tata Technologies was subscribed 69.43 times.The issue opened for bidding on 22 November 2023 and it closed on 24 November 2023. The price band of the IPO was fixed at Rs 475-500 per share.

The offer comprised a net offer of up to 5,27,36,909 equity shares, Tata Technologies employee reservation portion of 20,28,342 equity shares and the Tata Motors shareholders reservation portion of up to 60,85,027 equity shares.

The offer for sale by the selling shareholders comprised up to 4,62,75,000 shares by Tata Motors, up to 97,16,853 shares by Alpha TC Holdings PTE, and up to 48,58,425 shares by Tata Capital growth Fund II.

The company will not receive any proceeds from the offer and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by the respective selling shareholders as part of the offer.

The offer size was cut from 9.57 crore shares to 6.09 crore shares after Tata Motors sold a 9.9% stake in Tata Technologies to investors led by private equity major TPG in October 2023.

Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers. The company has deep domain expertise in the automotive industry and leverages this expertise to serve its clients in adjacent industries, such as in aerospace and transportation and construction heavy machinery (TCHM).

Tata Technologies is a subsidiary of Tata Motors and is part of Tata group. The company as of 30 September 2023, had 19 global delivery centers spread across North America, Europe, and Asia Pacific.

The company reported a net profit of Rs 351.90 crore and net sales of Rs 2,526.70 crore for the six months ended on 30 September 2023.