The shares were allotted at Rs 445 apiece, which is the higher end of the price band of IPO.
Nine of the eleven sectors in the S&P 500 stock index were negative, after poor earnings forecasts from some of the largest companies.
Promoted by Punjab National Bank, the company is seeking to raise Rs 3,000 crore through the IPO.
Tata Steel is a strong counter and it has moved up from lower levels. The stock has support at Rs 405 and below Rs 405 it can go down to Rs 390-380.
Sensex and Nifty on Tuesday dragged down by stocks of Tata Group companies after Cyrus Mistry was ousted as chairman of salt-to-software conglomerate Tata Sons, in a move that caught markets by surprise.
Adani Transmission Ltd yesterday reported a 38.63 per cent drop in consolidated net profit at Rs 99.54 crore for the July-September period, the second quarter of the current fiscal.
Total consolidated income of the company fell by 16 per cent to Rs 7,594 crore in July-September quarter this fiscal from Rs 9,075 crore during the same quarter in 2015-16.
Idea Cellular fell by nearly 4 per cent today after the company reported an 88 per cent plunge in consolidated net profit for the September quarter.
Tata Steel, Tata Motors, Tata Motors DVR, Tata Power and Tata Consultancy Services were among the laggards in Nifty.
Tata Group shares such as Tata Steel, Tata Motors, Tata Motors DVR, Tata Power and Tata Consultancy Services were among the laggards in the Nifty basket of shares.
Aditya Agarwal, head technical research at Way2Wealth says, building fresh long position in Nifty is not advisable as it faces resistance at 8,740. If Nifty closes above 8,740, then it can go above 8,800, he added.
In the past three months, the BSE index for FMCG stocks - FMCG BSE - has fallen 2%, underperforming the Sensex's 0.50% rise during that period.
Japanese shares rose for a second day as the yen weakened against the dollar, boosting the outlook for exporters' profits at the start of the corporate earnings season.
Time Warner shares were trading some 20 per cent below the implied value of AT&T's $107.50 per share cash and stock offer, indicating investor doubts that the companies would be able to complete the transaction.
The RBI monitors the ceilings on investments of foreign institute investors/NRIs/persons of Indian origins in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.
More than a third of the S&P 500 components are scheduled to report earnings this week, including heavyweights such as Apple and Boeing.
Ratan Tata, who was on Monday made interim chairman of Tata Sons after Cyrus Mistry was removed from the post he held for less than four years, had earlier headed the group for 21 years.