India's Tata Technologies sets IPO price band at 475-500 rupees per share

FILE PHOTO: A Tata sign is seen outside their offices in London, Britain March 30, 2016. REUTERS/Toby Melville/File Photo

BENGALURU (Reuters) -India's Tata Technologies set a price band of 475-500 rupees per share for its initial public offering, per a term sheet and newspaper ad on Thursday, valuing the first Tata Group company to go public in nearly two decades at roughly $2.5 billion.

India has had a record 194 IPOs so far this year, during which the stock market has hit record highs as the country's economic growth prospects and a vast consumer base make it an attractive prospect for companies and investors.