The initial share sale received bids for 3,12,64,91,040 shares against 4,50,29,207 shares on offer, as per NSE data.
The category for qualified institutional buyers (QIBs) was subscribed a mammoth 203.41 times, while the part meant for non-institutional investors attracted 62.11 times subscription. The quota for retail individual investors (RIIs) was subscribed 16.50 times.
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The IPO of Tata Technologies was fully subscribed within minutes of opening for bidding on Wednesday.
Tata Technologies, an arm of Tata Motors, on Tuesday said it has collected Rs 791 crore from anchor investors.
The public issue had a price band of Rs 475-500 per share.
Tata Technologies’ public issue was entirely an Offer For Sale (OFS) of 6.08 crore equity shares.
Read from ET: Tata Tech IPO subscribed nearly 70 times at close; QIB part booked over 200 times
Under the OFS, Tata Motors offloaded 4.63 crore shares, representing an 11.4 per cent stake, private equity firm Alpha TC Holdings sold 97.17 lakh shares or 2.4 per cent stake, and Tata Capital Growth Fund I offloaded 48.58 lakh shares or 1.2 per cent of the shareholding.
JM Financial, Citigroup Global Markets and BofA Securities were the book-running lead managers to advise the company on the IPO.
Equity shares of Tata Technologies will be listed on BSE and NSE.