TCS IPO subscribed six times

Mumbai: Tata Consultancy Services' initial public offer has been over subscribed six times, according to merchant bankers. The lead managers say that this figure is likely to go up as uploading of applications was still underway.

Over one million application forms have been received from the retail category of applicants.

According to merchant banking sources, the IPO has seen the highest retail participation for a public offer in the Indian capital markets.