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The Economic Times

Debaroti Adhikary

Tata Sons IPO buzz adds Rs 17,200 cr to m-cap of 5 group stocks. Who gains most?

Tata Sons IPO RBI Tata Group Tata Chemicals Tata Elxsi Tata Motors PV Tata Tech

The renewed buzz around Tata Sons’ much-awaited IPO sparked a sharp rally in Tata Group stocks on Tuesday, adding more than Rs 17,200 crore in less than an hour from opening to the total market capitalisation of Tata Chemicals, Tata Investment Corp, Tata Motors PV, Tata Elxsi and Tata Tech, whose shares rallied up to 20%.

Tata Sons inched closer to its much-awaited IPO after the Reserve Bank of India (RBI) rejected the company’s application for voluntary surrender of its Certificate of Registration (CoR) to be classified as an unregistered Core Investment Company (CIC), paving the way for a public listing of the holding company of India’s largest business conglomerate with wide ranging interests across sectors and countries.

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