Tata Technologies has made a blockbuster debut at the bourses. The Tata Technologies share is listed at a 140% premium over the ₹500 offer price at ₹1,199.95. The shares further jumped over 16% to reach an intraday high of ₹1,400.

The Invested: If you subscribed to the first Tata Group IPO in 19 years, and were lucky enough to get the shares, you would have had 30 shares of the company priced at ₹15,000. Today with the Tata Technologies share price reaching ₹1,400, the value of those 30 shares would have been around 42,000.

The IPO: The ₹3,042.51 crore Tata Technologies IPO was open for subscription from November 22 to November 24, with a price band set at ₹475-500 per share. The offer price was set at ₹500. The IPO generated substantial interest from investors, being oversubscribed by a remarkable 69.43 times. The total bids received amounted to 312.64 crore equity shares, far exceeding the available 4.5 crore shares for subscription.

The massive response meant that not everyone who applied could get the shares allotted. Most analysts had also recommended subscribing to the public issue. Domestic brokerage firms Ventura, IDBI Capital, KRChoksey and Chola Securities all had a “subscribe” rating on the IPO.

Price Action: Tata Technologies’ share price was up 11.42% to trade at ₹1,337 on Thursday afternoon.

Read Next: Tata Technologies Lists At 140% Premium, Shares Hit ₹1,400 High

Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.