Listing rush

Primary market activity indicates broader revival

Tata Technologies’ initial public offering (IPO) has attracted significant investor interest since it is the first primary market offering from the Tata group in about two decades. The issue aims to raise Rs 3,042 crore in the price band of Rs 475-500 per share. Given a grey market premium of about Rs 350, the issue is likely to see oversubscription and list at a premium. Apart from Tata Technologies, which has an excellent reputation for engineering solutions and is backed by one of India’s largest conglomerates, this has in general been an excellent year for companies seeking to tap the