Internetdesk: Tata Technologies’ IPO from Tata Group has registered a new record. This IPO, which received a huge response for three days as part of the subscription, has erased the recent record held by LIC. LIC (LIC), which became the largest IPO in the history of the stock market, received the highest number of 73.4 lakh applications as part of raising Rs.20,557 crore. Recently Tata Technologies IPO (Tata Tech IPO) has surpassed that record. The IPO, which raised Rs.3,043 crores, was oversubscribed. LIC broke the record with 73.60 lakh applications. Being the first IPO from the Tata Group after two decades, there was a huge response.
The public issues of Flair Writing, Fedbank Financial Services, Gandhar Oil Refinery and IREDA IPOs including Tata Tech have ended. The total IPOs that have come to raise Rs.7,380 crore have received applications for the value of Rs.2.6 lakh crore. But among all these Tata Tech IPO got the highest response with 69.4 times. Pen maker Flair Writing Industries’ IPO was oversubscribed 46.7 times with 17 lakh applications to raise Rs 593 crore. The Rs.500.69 crore Gandhar Oil Refinery IPO also received a response rate of 64.2 times with 28.5 lakh applications. IREDA, which came with the target of raising Rs.2,150 crore, received a response of 38.8 times. Fedbank Financial Services, a subsidiary of Federal Bank, has received only 2.2 times response with a target of raising Rs.1,092 crore.