IT HAS BEEN a carnival for the initial public offering (IPO) market, with investors flocking to get a share of the pie in five big public issues that took place this week. A total of almost ₹2.6 trillion was locked in by investors, including anchor investors, for these issues that sought to raise a little over ₹7,300 crore, marking a frenzy of 36x subscription.
The year so far has seen 47 IPOs, raising over ₹40,000 crore.
Tata Technologies was the one to dominate headlines when it decided to float its public issue, given that it was the first Tata group firm in two decades to go for a listing, after TCS in 2004.
All eyes were on the final day of its issue, with reports suggesting the stock was commanding a grey market premium of 81% over its upper price band of ₹500.
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