Tata Technologies shares hit 52-week low, trade below listing price of Rs 1,200

Tata Technologies share price NSE BSE: Shares of Tata Technologies slipped in Thursday's trade and hit their 52-week low of Rs 1,020 apiece on the BSE. The stock fell 14.5 per cent lower from its listing price of Rs 1,200.

At 1:22 p.m., Tata Technologies stock traded 0.15 per cent lower, at Rs 1,027.15 apiece on the BSE. The market capitalisation of the company at around the same time stood at Rs 41,668.24 crore.

Tata Technologies shares made a strong debut on the bourses on November 30. On the NSE, Tata Technologies' share price was listed at Rs 1,200 per share, 140 per cent higher than the issue price of Rs 500, and on the BSE, Tata Technologies shares were listed at Rs 1,199.95 apiece. 

The Tata Group company had fixed the price band in the range of Rs 475 to Rs 500 per equity share with a face value of Rs 2. The IPO window opened for subscription on November 22, 2023, and closed on November 24, 2023.

The Tata Tech IPO was subscribed 69.43 times on the final day of bidding on November 24. The retail investors portion was subscribed 16.50 times, the NII portion was subscribed 62.11 times, and the qualified institutional buyers (QIB) portion was booked 203.41 times. 

The employee portion was subscribed 3.70 times, and the portion reserved for the shareholder was booked 29.19 times.

Tata Technologies IPO received bids for 3,12,64,91,340 shares against 4,50,29,207 shares on offer, according to data from the BSE.

Tata Technologies IPO subscription status on Day 2 was 14.85 times, and Tata Tech IPO subscription status on Day 1 was 6.55 times.

Recently, JP Morgan initiated an 'underweight' rating on the Tata Technologies stock with a target of Rs 800.

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