Friday, December 1, 2023

At 1,200, Tata Tech lists, 140% above the IPO price

 MUMBAI: Candidates in the Rs 3,043-crore Goodbye Advancements lady offering, who got portions of the organization at Rs 500 each, saw their holding hop more than 2.5 times on Thursday. The stock recorded at Rs 1,200, contacted a high at Rs 1,400 and shut the day at Rs 1,314 - up 163% or 2.6 times the Initial public offering cost.

Two different organizations - Gandhar Petroleum Treatment facility and Fedbank Monetary Administrations - additionally recorded around the same time. Gandhar Oil recorded at Rs 295, a 75% premium over its Initial public offering cost of Rs 169, and shut at Rs 302. Fedbank Monetary, then again, saw a muffled posting, with the stock scarcely different from its Initial public offering cost of Rs 138 on its securities exchange debut. It shut at Rs 145 - simply a 2% premium to the deal cost.

Last week, when these three organizations had shut their offering adjusts for the Initial public offering, Goodbye Tech's deal was bought in multiple times, Gandhar Oil's multiple times and Fedbank Monetary's 2.2 times. In the approach the posting of these stocks on Thursday, the dark market premium - the markup over the stock's Initial public offering cost to its posting cost - likewise had risen significantly.

The presentation day flood in Goodbye Tech gave it a market capitalisation of Rs 53,315 crore, putting it at the 10th spot among all Goodbye Gathering organizations. The Initial public offering was the first by a Goodbye Gathering organization in almost 20 years and saw serious areas of strength for exceptionally reaction, market players said.

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