Tata Technologies Ltd shares soared to an impressive 180 per cent above their issue price during their maiden trading session on Thursday, marking the most spectacular debut on the Indian stock market so far in 2023. 

The shares commenced trading at ₹ 1,200 on the National Stock Exchange (NSE) and ₹ 1,199 on the BSE, representing a staggering 140 per cent premium over their initial public offering (IPO) price.

The Tata Group company’s shares skyrocketed as much as 180 per cent to a high of ₹ 1,400 in early trade on Thursday, before settling over 167 per cent higher than the IPO price at ₹1338.95 apiece by 11.47AM. The stock gained in contrast to the broader Nifty 50 index trading 0.18 per cent lower at the time and benchmark Sensex slipping 0.29 per cent.

Earlier, the ₹ 3,042.5 crore IPO of the Tata Group company was subscribed 69.43 times on the final day of subscription on November 24. Reflecting the huge demand, the initial public offer was fully subscribed in the first 36 minutes on the opening day on November 22.

The IPO had a price band of ₹ 475-500 per share. It was entirely an Offer For Sale (OFS) of 6.08 crore equity shares.