'Hurts more than World Cup loss,' say retail investors who didn't get Tata Tech IPO allotment as stock makes bumper market debut

The retail investors who didn't get allotment for Tata Technologies Ltd IPO shared their pain on Thursday as the shares got listed at 140% premium. Later, the stock surged as much as 180% valuing the first Tata Group company to go public in nearly two decades at Rs 56,800 crore. 

The Tata Motors' unit, which provides engineering and technology services to auto, aero and heavy machinery makers, surged past the initial public offer (IPO) price of Rs 500 to debut at Rs 1,200 and rose to as much as Rs 1,400.

The Rs 3,042.5 crore IPO of Tata Technologies was subscribed 69.43 times. The category for qualified institutional buyers (QIBs) was subscribed a mammoth 203.41 times, while the part meant for non-institutional investors attracted 62.11 times subscription. The quota for retail individual investors (RIIs) was subscribed 16.50 times.

On Thursday, hilarious memes emerged on X platform (formerly Twitter) where retail investors who couldn't lucky at IPO allotment of Tata Tech. "Not getting Tata Tech IPO allotment hurts more than World Cup loss," said an X user. 

On Thursday, some investors said there FOMO (fear of missing out) is being created among retail investors and that the stock can fall a bit in the coming days when long-term investors can take an entry in the stock. 

Tata Technologies' valuation has topped that of its peers KPIT Technologies, L&T Technology Services and sister Tata Group company Tata Elxsi, which are valued between Rs 41,000 crore and Rs 52,400 crore. 

With inputs from Reuters

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