BENGALURU (Reuters) – Shares of India’s Tata Technologies surged 140% in their trading debut on Thursday, valuing the company at 486.80 billion rupees ($5.84 billion).
The stock debuted at 1,200 rupees in pre-open trade, compared with its initial public offer (IPO) price of 500 rupees.
This is the first Tata Group company to go public since Tata Consultancy Services listed in 2004.
The benchmark Nifty 50 index was up 0.1%.
($1 = 83.3040 Indian rupees)
(Reporting by Rama Venkat in Bengaluru; Editing by Mrigank Dhaniwala)
