Tata Steel Limited which had launched its FPO between the 19th and the 21st of January for 5.7 cr shares in a price range of Rs 594-610 is good for delivery from today. The issue was subscribed an overall 6 times and received excellent support from QIB’s. The QIB portion was subscribed 10.41 times, the HNI portion 7.21 times and the retail portion 1.6 times.

Shares of Tata Steel closed at Rs 630.95 on Tuesday at the BSE. The share could be under pressure as people sell against the allotment received in the FPO.