Tata Technologies Ltd., the first company from the salt-to-software conglomerate to list since 2004, more than doubled in its trading debut in Mumbai, providing a further boost to India’s busy market for initial public offerings.

The shares gained as high as 1,400 rupees, versus an offer price of 500 rupees. The company’s 30.4 billion rupees ($365 million) initial share sale was oversubscribed 69 times last week, as investors piled into the engineering research unit of Tata Motors Ltd., the maker of Jaguar and Land Rover cars.