In Tata Capital’s IPO, the qualified institutional buyers (QIBs) portion of the non-banking financial company’s IPO was subscribed 3.42 times, while the non-institutional investors (NIIs) or high-net-worth individuals’ portion and the retail investors’ portion were subscribed 1.98 times and 1.1 times, respectively. The employee reserved portion saw a subscription of 2.92 times.
Overall, investors placed bids for 65.12 crore shares in the issue, compared with the 33.34 crore shares on offer. Tata Capital had also raised ₹4,641.8 crore from anchor investors on Friday.
The unofficial grey market premium (GMP) – the extra price investors are willing to pay over the IPO price in the unofficial market before listing – for Tata Capital rose marginally to ₹7, or 2.1,% on Wednesday evening over the upper end of its price band of ₹326 from ₹5 on Tuesday.
The IPO, which opened for public subscription on Monday, was priced in the range of ₹310-326 per share. The offer included a fresh issue of ₹6,846 crore and an offer for sale of ₹8,666 crore.
Tata Capital’s issue is the largest since Hyundai Motor India‘s ₹27,870 crore, or $3.3 billion, issue in October 2024. The other large share sales in this period have been HDB Financial Services, LG Electronics India, Hexaware Technologies and NSDL.In LG’s IPO, the qualified institutional buyers (QIBs) portion was subscribed 2.59 times on Wednesday – the second day of bids. The non-institutional investors (NIIs) or high-net-worth individuals’ portion and the retail investors’ portion are subscribed 7.6 times and 1.9 times so far, respectively. The shares reserved for its employees saw a demand of 4.11 times.The grey market premium (GMP) of LG Electronics India shares fell marginally on Wednesday to ₹298, or 26.1%, over the upper price band of ₹1,140, down from ₹312 on the previous day.
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