Wager on four IPOs exceeds Rs 2 trn; Tata Tech subscribed nearly 70 times

Tata Tech offering races past LIC with a record 7.33 million applications

Investors placed cumulative bids exceeding Rs 2 trillion on four initial public offerings (IPOs) that closed on Friday.

Tata Technologies led the pack with its maiden share sale oversubscribed nearly 70 times, attracting bids surpassing Rs 1.56 trillion. The smaller offerings of Flair Writing Industries and Gandhar Oil Refinery (India) each drew bids worth over Rs 20,000 crore. FedBank Financial’s Rs 1,092 crore offering witnessed a relatively subdued response, with just over two times oversubscription. A day earlier, the state-owned Indian Renewable Energy Development Agency’s IPO had attracted nearly 39 times subscription, with bids nearing Rs 58,500 crore.

The first