Tata Capital makes stock market debut: What to know
Tata Capital, part of the Tata Group, just made its stock market debut recently.
Shares opened at ₹330—just above the IPO price of ₹326—after what turned out to be one of this year's biggest IPOs.
Despite expectations for a quiet start because of its size, Tata Capital still pulled in ₹4,642 crore from 68 domestic and global institutional investors, showing strong demand.
India's 4th-largest IPO, biggest for an NBFC
This was India's fourth-largest IPO ever and the biggest for a non-banking financial company (NBFC).
The offer was subscribed nearly twice over—big players like mutual funds and banks wanted in (they subscribed 3.42 times their share), while retail investors also showed up (1.1 times).
The goal? Raise ₹6,846 crore to help Tata Capital grow and boost its finances for the future.
All in all, investor interest suggests people are pretty optimistic about where Tata Capital is heading next.