Tata Capital sets ₹15,511cr IPO launch for October
Tata Capital is launching its IPO with shares priced between ₹310 and ₹326. The subscription window runs from October 6 to 8.
Ahead of the launch, Tata Capital trimmed its valuation by 5% to about $15.7 billion (₹1.39 lakh crore), aiming to offer better value for investors.
Fresh issue and offer for sale in IPO
As the financial services arm of the Tata Group, Tata Capital offers loans, asset management, and advisory services for both individuals and businesses.
This IPO includes a fresh issue of 21 crore shares plus an offer for sale of around 26.6 crore shares by Tata Sons and IFC.
At the top price band, the total issue size is about $1.75 billion (₹15,511 crore), slightly reduced from earlier plans.
Funds raised will help boost Tata Capital's tier-I capital
Funds raised will boost Tata Capital's tier-I capital—basically helping it grow and meet regulatory needs.
Anchor investor bidding kicks off October 3; share allotment happens by October 9; and if all goes as planned, you'll see Tata Capital listed on BSE and NSE on October 13.