The TCS float has been high profile

TCS closed at 987.50 rupees, a price which gives it a market value of $10.2bn (�5.7bn).

The share sale was hugely oversubscribed and at one point the shares were 27% higher than the issue price of 850 rupees.

TCS ,the leader of the nation's $12.5bn (�7bn) software services export industry, raised $1.2bn from the float.

The offer of a 13.33% stake in the company proved hugely popular, with shares sold out by the second day of the offer.

There were still some analysts who thought the stock could have performed better.

"People were expecting it to open above 1,100 rupees," Vijay Poddar chief dealer at Advani Stockbrokers told Agence France Presse. "For big traders, the price won't get them anything as they borrowed money from banks to invest in the share issue," he added.

Overseas listing?

TCS, now the third-largest company by market capitalisation on the Bombay Stock Exchange, is considering a further listing offshore.

"The listing will enhance TCS's profile globally, and act as a currency for our growth plans and meeting employee expectations," said chief executive S Ramadorai.

"The great thing about this industry is not so much where we stand, but where we are going."